Dear Committee Members, Thursday 23rd July 15

I wish to express my support for the submission put forward to the inquiry by Dr Peter

Brandson of Bank Reform Now, their call for a Royal Commission and agenda for reform.

If the submissions are few, it doesn’t mean that there is not a problem...only that

these people are unaware of this submission or because like myself … these

people are not coping and struggle just to get through one day at a time. It's

called Depression...it is a social injustice caused by what these criminal, unconscionable

and predatory activities involving banks - financial planners etc...have done.

There is a problem...and realistically there is no need for these submissions to let you know there is a problem because the government

is completely aware of the systemic level of unconscionable conduct within the financial

sector and of the many forms which that conduct takes and that this misconduct causes

immeasurable damage to the actual lives of thousands of members of the Australian Public.

I also wish to express my support for the submission put forward to the inquiry by Chris

Shannon as to….I submit to the committee that any loan in which a consumer's Loan

Application Form and related paperwork may have been altered (i.e.: falsified

employment details, inflated income and assets or property valuations which meet or exceed the offered purchase price which was known to the lender when appointing the 'independent' valuer) subsequent to being signed by

that consumer should automatically be considered as an engineered default by that lender on

grounds that the probability of a consumer affected in this way entering into an event of

The impairment of customer loansSubmission 117

default is so exponentially increased in comparison to a consumer who was lent money in an

appropriate manner based upon their ability to service the repayment of the loan.

I submit to the Inquiry into Bank Engineered Defaults that the –Lending Criteria needs to be

addressed - Low Doc Loans need to be abolished – Securitisation needs laws to address

the Borrower when a loan is put in place wrongly –

Possession of your home should not be allowed without a fair and just hearing.

The reason I am making a Submission is because this is wrong. It is not just the few

submitting these to you and you are all aware of this. This is a world wide problem and is in

the news nearly every day.

It isn’t only our homes being lost - a lot of lives have also been lost, the youngest a 16 year

old son of a farmer. He should be alive; his death could have been prevented.

The death of my loved one could have been prevented, the past few years of living hell I

should not had to suffer but still nothing is done.

FOS states that they have wronged, say that they should not profit but then on their assumption that they did not think that the borrower suffered a loss say it's okay….they can take our home as well. The borrower lost his life…is that not a loss….

What I can’t understand is why you refuse to do anything about it.

Why you let them take our homes when it is them that have wronged.

The impairment of customer loansSubmission 117

Why not only are you allowing this to still continue...but you change legislation to support it.

This has to be stopped; it is morally and legally unjust.

Sincerely, Kerry

The impairment of customer loansSubmission 117