Banks, same old story! But I am angrier!

The Australian major banks and financial institutions have been knowingly caught defrauding their customers(even the dead ones)!

I can say this without fear of recourse as the evidence is overwhelming and I couldn't care less about them. Their army of lawyers who have also knowingly followed instructions to tamper with evidence are also culpable( but are protected through the system of law). I've taken a company to the Supreme court and won so I know the field of legal combat.

The major banks came out when questioned about their actions tried to shift blame onto mortgage brokers.

" Fair go Gov! It wasn't me, it was those nasty mortgage brokers"! The biggest load of B******* spread out since Johnson's manure truck overturned on the highway.

This isn't news to any person over the age of 40, that knows the banks have a notorious association with dishonesty through history and spend millions of dollars each year to convince you otherwise.

Since you already are aware of the activities of the Major Australian banks let's look at some of the global banks with no moral compass and don't care whether they get caught or not.

UBS- recently came out in flawed and biased reports claiming mortgage brokers are the cause of mortgage stress. So I will happily sink the boot into them first.

UBS finally admitted to using Jewish slave WW2 labourers from the notorious Nazi Auschwitz Prison camp. Also trying to conceal banking assets of the holocaust victims of WW2 from their descendants, only to be caught shredding evidence in 1997 . I will skip past the other 17 crooked and knowingly criminal actions to their most recent involvement in the Panama Papers which was assisting high wealth criminals and corrupt corporations conceal money from government bodies and citizens.

HSBC- Started out with laundering money from opium trading in China in the 1800's. Aside from supporting deforestation and ongoing drug money laundering. Their most recent activities were to ignore global requests to allow funds to be directed to nuclear weapons programs in Iran and North Korea. Still true to form, they will gladly help you hide your money from governments and other interested parties.

Wells Fargo- Not exactly global, but worth a mention, recently got caught setting up 2 million fake bank accounts in U.S. citizens names without permission and applying fees and charges. Overcharging nonwhite banking customers, involvement in overcharging on mortgage fees, involvement in the NRA U.S. gun lobby group. The list of their criminal transgressions again run into double digits here.

JPMorgan Chase- Another double digit offender here, but has some exceptional, notorious black marks here. The Bernie Madoff fraud which cost U.S. families an estimated $64.8 billion. Prosecutors had testimony from Bernie Madoff himself confirming their knowledge. I quote from the prosecution statement filed in the class action against the Bank, "JPMorgan was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them ... But faced with the prospect of shutting down Madoff's account and losing lucrative profits, JPMorgan - at its highest level - chose to turn a blind eye." It gets better(actually, I mean worse), overcharging of over 6000 serving U.S. defence force families in mortgages, foreclosing on quite a few in the process. Participating in energy pricing manipulation which resulted inflated energy prices to households.

Bank of America- The U.S. government charged the bank of defrauding schools, hospitals, and dozens of state and local government organisations via misconduct and illegal activities involving the investment of proceeds from municipal bond sales. The bank settled and paid back some funds in fines and compensation. Overcharging nearly 2 million bank accounts and seizing properties not even secured by their own mortgages.

Mortgage fraud against non-whites( a lot of racists in American banking), yet quite happy to even double interest charges on clients accounts with no adverse repayment history, just felt like it I suppose.

I really could write a book on more banks and the reported offences with supporting evidence that these banks get up to. But, I have a more important job to do, getting you to think about who you bank with.

You may wonder why these banks and their executives are not in jail. Simply they are protected by the corporate veil, a legal entity that acts as a shield, which allows companies to even potentially avoid responsibility for manslaughter. In most case the fines and compensation demanded of these banks is much less than the profit they make. They just see it as the "cost of doing business"! It is noted from public commentary on the Royal Commission into Banking," One problem is that the loyalty of customers is not rewarded with lower rates. Banks in effect, know most people don’t change their bank, and thus they take advantage of that loyalty. Then our country will be worse for it".

I need you to think about the ethics of whom you bank and borrow with.

I need you to ask yourself if you are paying too much in fees, charges and interest rates, why is this?

I need you to consider, is it worth paying these executives such a high salary for what is essentially stealing from your fellow citizens?

Are you okay with a bank lying to it's customers and essentially will be lying to you?

Are you okay in supporting a lender who will always put their interests before you?

Do you want to be part of the problem?

How do you beat that? Use a mortgage broker, it's that simple. Tell the broker to avoid the major banks and it's subsidiaries when setting up your loan. You can make that important difference, it is your choice!

A independent mortgage broker is your only line of defence against this culture of exploitation. That's why the major banks hate us, no other reason. Mortgage brokers provide over 55% of all home loans in Australia. It's because we provide consumer advocacy, choice, service and real financial benefits to borrowers. We have rescued people from losing their homes, we have shown the true compassion a fellow human being can show to another. We are not a faceless corporation of evil plotters and schemers.

So give it some thought and speak to a broker today to make that difference.

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