Banks knew interest rates would rise. Borrowers did not.
Thousands stand to lose their homes, deposits, repayments, businesses or farms. Banks will patiently wait until they trip up then pounce. Banks collect interest in all those years as they wait.
Why would Federal Parliament, ASIC provide protection for dishonest banks?
We will not be stopped from helping home buyers by the federal Debt Management Services regulation designed to protect dishonest banks from our forensic investigation into their home loan practices. Maybe it was introduced in 2021 during Covid as a temporary measure but the Federal MPs need to get rid of it now. They did enough damage to customers by deregulating banks in the late 1980’s. Ever since then federal and state taxpayers have been paying to help out borrowers entrapped, lied to , cheated and misled by their deregulated banks.
Banks are earning billions and can afford to stand by customers when things get tough. They just don’t care!
GBAC will not stand by while bank customers suffer.
We will help borrowers out within that cruel law, as we have done for borrowers all over Australia since federal politicians first de-regulated banks in the late 1980’s, allowing them to rip of customers as the Royal Commission discovered.
That is why GBAC bank debt solutions has just launched “Bankwatch” to run the same sort of Votergram campaign as Roadwatch did when it reduced the road toll by 70%. In those days the road transport industry behaved like the banking industry does now. But the truck drivers joined Roadwatch and reported on their corporate bosses. Now bank customers and staff will be able to discretely report their director and CEOs to every member of federal Parliament
Banks think that their big political donations protect them, but through our GBAC and Votergram services, we have provided Australian voters with more power and influence than voters have in any other democracy in the world. As Normie says “You don’t have to suffer in silence”.