The Unpleasant Truth About Australian Banking

Introduction

On 14 December 2017, Prime Minister Turnbull and the Governor General signed the Letters Patent. The next day, Commissioner Hayne required the banks and regulators to provide him with copies of all documents they had in relation to misconduct, and practices that had been below community standards since 2008. Neither the banks nor the regulators provided this information to Commissioner.

When banks’ chairmen and regulators swore to tell the truth, and nothing but the truth, they misled the Royal Commission by concealing Australia’s greatest crimes. It meant that the disputes during the past 5 years could be discussed publicly.

In August 2018, the Senate recommend that the Royal Commission be extended. The recommendations were referred to the Prime Minister and Treasurer but were overturned.  Only 27 cases were dealt with by the Commissioner. The cases set out on this site provide evidence of Australia’s greatest crimes.

These cases, which weren’t heard in 2018, are being published here by small businesses and farmers. They provide evidence that the practices of the banks and regulators are more serious than those of Bernie Madoff who, in 2009, was jailed for 150 years and died in jail last year. However, no chief executives of the 8 banks referred to in those cases have yet been prosecuted.

These chief executives and the directors were the Architects of the 2004 Code. They, and regulators, ASIC and APRA, knew about the crimes but did not suspend or cancel their licenses. These 27 stories are unsettling and disturbing.

Year Complaints received Not resolved in 5 days Difficulty requests
2013/14 897,987 107,761 271,703
2014/15 1,099,272 99,000 288,139
2015/16 1,226,093 85,200 296,071
2016/17 1,189,832 91,630 279,000
2017/18 1,130,037 101,703 298,569
Total 5,543,221 485,293 1,433,482
  • All
  • Bankwest
  • Bendigo Bank
  • Commonwealth
  • Criminal Loans
  • NAB
  • Rabobank
  • Suncorp
  • Westpac

Farmers Complain No Reply

Ronald Feierabend’s Story 2 My name is Ron Feierabend, one of Suncorp Bank’s victims for ages now. I am keeping trying to resolve disputes with the bank, but this is proved a challenging and impossible process, not only for me but for all other Suncorp Bank’s customers. For the past 12 months, I have repeatedly […]

Share This ...

Bendigo: a lender or fraudster?

Gerard O’Grady Story My name is Gerard O’Grady. I would like to share my bad experiences with my bank, which I should not have trusted for ages now. In partnership with my parents, I ran a very profitable cattle farm. I was also involved in land development, which, if Bendigo Bank had allowed me to […]

Share This ...

Ruined by Commonwealth Bank

Neil Hermes Story My name is Neil Hermes. This is my story relating to the bank’s misconduct and its devasting effects to my family and life. In 2007, I signed a loan contract with Bankwest in order to purchase a tourism property at Jervis Bay on the south coast of NSW. This was an important […]

Share This ...

CBA Killing Farming Business

Craig Perry Story My name is Craig Perry. This is my story, my worst experience with one of the leading banks in Australia for ages. I was cheated by the bank since we accepted the bank’s first offer for our loan facilities. In 2010, my family signed a loan contract with Commonwealth Bank at Swan […]

Share This ...

CBA – Unconscionable Lender

John Wharton Story My name is John Wharton. I would like to tell you about my experience with my lenders, which committed one of Australia’s greatest crimes. I was a Councilor in 1991, before being appointed Mayor of Richmond in 1997. At that time, I was managing my family’s farming business with my wife. In […]

Share This ...

Australia is Bankster’s Paradise

Archer Field’s Story In 1990, a 99-year lease of Caves House was granted to Jenolan Caves Resort Pty Ltd (JCR), and subsequently, Jenolan Caves Reserve Trust (the Trust) Board was set up by an earlier Liberal Government. Silkbard Pty Ltd (later renamed JCR) and the Trust were members of a Public Private Partnership (“the PPP”). […]

Share This ...

Cheated by NSW Government

JMA’s Story In 2005, the Jenolan Caves House lessee experienced financial difficulty following a decision by the government to not reappoint the Jenolan Caves Reserve Trust (the Trust) Board. It meant the government breached the National Park and Wildlife Act; it was in breach of the Services Agreement. At the same time, St George Bank […]

Share This ...

NAB, Bank or Predatory Lender?

Priestleys’ Story   My name is Claire Priestley, on behalf of my brother, Chris Priestley, I would like to share our experiences with one of the leading banks in Australia, which damaged our properties and life. We have filed complaints with the bank’s directors, the regulators, and the government at all levels, from state to […]

Share This ...

Bankwest and the Contagion

Pat Viceconte’s Story My family was the victim of a predatory loan we signed with Bankwest for $9.7M in July 2008. I had then several businesses: Building and Land development, Livestock Farming, Import and Export of Livestock, and Commercial Property Rentals. I needed the funds to pay out my NAB facilities. On 14 June 2008, […]

Share This ...

Bendigo Bank’s Worst Victim

Wayne Prichard’s story My name is Wayne Prichard, and this is my story about deceitful banking practices by Rural Bank and its owners Bendigo Bank. I have outlined events that were suppressed following my signing of a deed of forbearance with the bank at mediation. I reluctantly signed the deed because of poor advice from […]

Share This ...

CBA’s Deceitful Code & Conduct

Michael Murphy & Tracey Moore’s Story Prior to 2008, I was living at Mount Newman (“Newman”), and Tracey was living in Perth. We wanted to purchase a home in Perth for our future. We discussed this with Commonwealth Bank, and it loaned us funds to purchase an investment property at Newman. This made sense because […]

Share This ...

Rabobank’s Directors Must Win

Introduction Lloyd and I have farming in our blood. We grew up on dairy farms and have a lifelong association with the land. Buying our own farm in 1989 was the result of years of hard work. If things had gone differently, our adult children would now be taking over the farms for our grandchildren. […]

Share This ...

Suncorp Bank and its Criminals

Ron Feierabend’s story   I am a farmer, and, by God’s good grace, I am a descendant of a family from Germany who for generations, have been solid reliable farmers.  Our history stretches back to the 1500s and, in the latter years, we had come to Australia to continue our agricultural heritage on the vast […]

Share This ...

Genner’s Predatory Westpac loan

My name is Paul Nielsen, and I would like to tell you a story about Ann Genner, who I met a few years ago. Ann arrived in Australia from Berlin with her mother shortly after the end of the Second World War. Her story is particularly disturbing: she was cheated by her bank and its […]

Share This ...

CBA Sells, Won’t Pay Damages

Selwyn Krepp’s story   My name is Selwyn Krepp and I have been trying to resolve disputes with Commonwealth Bank. This has proved difficult. In 2009, I had two investment properties in Queensland, units located at Cairns and a house nearby. Both investments were in good condition and the Bank required me to use them […]

Share This ...

Suncorp McLoughlin and Crimes

Share This …

Share This ...
Share This ...
BLOG

Mobile Blog

BOOKMARK THIS PAGE!

Scan QR-Code for Smartphone