PREDATORY LENDING – AUSTRIA Reiffeisen + CROATIA LOAN SHARK’S mortgage loans and Croatia Financial Instability Hypothesis ( H. Minksy (2.)

INTERNATIONAL SCANDAL – Illegal activities in the loan industry – Austria Croatia , government level!

Acknowledged with thanks from Austrian and Croatian financial government agencies
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PREDATORY LENDING ( 1.) – AUSTRIA + CROATIA

LOAN SHARK’S mortgage loans and Croatia Financial Instability Hypothesis ( H. Minksy (2.) )

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Lenders Predators:Raiffeisen ZentralBank i Raiffeisen bank International«Austria ( 3.)
Austria
Raiffeisen st.Stefan Jagerberger,
Raiffeisen karnten,
Raiffeisen Riegersburg,
Raiffeisen Nestelbach,
Raiffeisen Halbenrain,
Raiffeisen Gros st. Florian,
Raiffeisen Hatzendorf,
Raiffeisen Leibnitz,
Raiffeisen Paldau…

Unscrupulous lenders were eager to prey on people desperate for loans in these tight economic times.

These unscrupulous lenders prey on borrowers using deceit, manipulation, sales pressure and even fraud to get their victims to sign on the dotted line.

The hallmarks of a predatory loan are exploitation and entrapment:

These loans have sky-high interest rates and target consumers who have little ability to repay, such as the elderly, people with limited education, those with weak credit histories and other low-income groups.

Don’t be fooled into thinking that predators are lurking only in back-alley storefronts or on flashy websites. There is a growing trend among some large, reputable banks as Reiffeisenbank AustriA, par example is.

CHECK THIS LIST, PLS:
( the banks above were never registered in Croatia ) 10.
http://www.mfin.hr/hr/imatelji-odobrenja-ministarstva-financija-za-pruzanje-usluga-potrosackog-kreditiranja

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Victims:
Naïve at best and ignorant at worst , Croatian citizens!

+ Bosnia, Slovenia,Serbia,Romania,Bulgaria,Hungary…..

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LOAN SHARK’S 8 Austria-Croatia) real estate BUSINESSES started 2003. to 2011.

NEARLY 10,000 families ( or even more) have been close to losing their homes;at imminent risk of forced eviction.
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RED FLAG:

1. the lender allows you to borrow more money than you can afford or asserts that bad credit isn’t a problem.

2. Suspect a predatory loan if the lender asks you to fudge or make false statements on your loan application

3. asks you to sign blank documents or a document with blank spaces, or discourages you from reading the fine print
( Croatian loan document written in German language and without a translator being present )

4. Charges excessive fees or penalties if the loan is refinanced or payment is late.

5. Puts in fine print that the borrower cannot take legal action against the lender.

6. Adds unnecessary insurance or financial products to the loan.

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Predators INVOLVED :
Manager Raiffeisenbank St.Stefan – Jagerster August Walter,Austria
Ivanka Krajnc, Slovenia
…..
FOLLOWS List of names from Austrian and Croatian FINANCIAL AND GOVERNMENT AND COURT AND LAW AGENCIES
….

Predatory lending typically occurs on loans backed by some kind of collateral, such as a car or house or hotels , so that if the borrower defaults on the loan, the lender can repossess or foreclose and profit by selling the repossessed or foreclosed property.

Lenders may be accused of tricking a borrower into believing that an interest rate is lower than it actually is, or that the borrower’s ability to pay is greater than it actually is.

The lender, or others as agents of the lender, may well profit from repossession or foreclosure upon the collateral…

NOTA BENE :

Some of the predators ———( see names above ) :
are directly involved as lenders but also as buyers after they force the borrower to evict!

The predators are suceeding in the black business with the help of corrupt individuals ( Croatian public administration, court administration, political corruption …. and with the help of Croatian financial agencies as p.e. CNB ( Croatian National Bank) who did nothing to stop the predatory lending business ….

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STOP ILLEGAL BANKING! STOP ILLEGAL EVICTIONS!
ALERT:

The Austrian banks ( Reiffeisen…see the list above ) never registered in Croatia ( not EU member at the time) with
a full banking license and were not supervised by a national or international banking regulatory agency ( 5.)

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Illegal banking

The Austrian predators operating in Croatia were running an illegal banking with the help of Croatian financial agencies!

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ALERT -RED FLAG- ALERT!

Will the Croatain Justice Department pursuing a civil lawsuit against Bank of Croatia on the grounds that the bank lied about the quality of the mortgages underlying its mortgage-backed securities prior to the housing collapse and Croatian financial crisis.

The charges should allege out-and-out fraud in Bank of Croatia’s + Austria soup-to-nuts loan origination and securitization of mortgages. Loans, bad from the start, were knowingly bundled and securitized into trade with the aim of a final fraud!

As we all know, this play spread poison throughout the global financial system.

This particular fraud led to losses of at least 100 million EUR among investors ( AND CRO + AU STATE BUDGET MONEY ) who thought they were buying securities backed by mortgages THAT WERENT WORTHLESS AS THE BUSINESS WAS ILLEGAL?!
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It is alleged that Croatian National Bank and Austrian banks ( see the list ) knowingly originated bad mortgages, packaged and securitized them and… you know the rest.

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We also learned that rEIFFEISENAUSTRIA (see the list)
may have not been the first to do so – the syndrom is far more often then we think so.

And with all these revelations, all these banks as well the Croatian monetary and court -eviction – system join the rogues gallery; to mangle Winston Churchill, a “grisly gang who work their wicked will.”

Some of the largest banks in the world, and they are being pursued like criminals.

But it actually gets worse, dastardly worse…

RED ALERT
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Croatian government is on the move .

The criminal gang have to answer the question :” money laundering? using financial systems to track sources or destinations?
bad loans business is washing money? whose money? whose responsibilities?
will the forced evictions stop until we get the answers? ”

Does our Constitution constrain banks in such a situation?

Does it place a duty on the state to pass legislation to protect bond holders who are being exploited and bullied by banks or should our courts develop the law to protect bond holders from the mighty and sometimes rather unscrupulous banks who might want to make a fast buck with their home loans?

Should the right of access to housing not play a role in all of this?

The Constitution states that:

Everyone has the right to have access to adequate housing.
The state must take reasonable legislative and other measures, within its available resources, to achieve the progressive realisation of this right.
No one may be evicted from their home, or have their home demolished, without an order of court made after considering all the relevant circumstances. No legislation may permit arbitrary evictions.

————–BUT WHAT WHEN THE COURT SYSTEM IS CORRUPTED AND INVOLVED IN THE BUSINESS? WHAT THEN?——————-

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REFERENCES:
Link 1. https://en.wikipedia.org/wiki/Predatory_lending
Link 2. https://www.economicshelp.org/blog/6864/economics/financial-instability-hypothesis/
Link 3. http://www.novilist.hr/Vijesti/Hrvatska/Sumnjivo-bankarenje-Ovrsene-kuce-kupovali-direktori-banaka-koje-su-i-pokrenule-ovrhe
Link 4. https://provjereno.dnevnik.hr/clanak/potvrdu-o-uplati-rate-kredita-dobivali-na-racunima-za-kavu—301635.html
Link 5. http://udarno.com/suci-sudjelovali-u-kriminalu-sa-raiffeisenbank/
Link 6.http://udarno.com/stozer-antiraiffeisenbank-zgaziti-cemo-ih/
Link 7. http://www.dnevno.hr/vijesti/hrvatska/pismo-banci-razotkrio-banke-kao-kriminalne-organizacije-koje-provode-robovlasnicki-sustav-86735/
Link 8. http://emedjimurje.rtl.hr/gospodarstvo/ilegalni-krediti-vidite-li-zalijepljeni-oglas-prijavite-ga-ministarstvu
Link 9. http://www.jutarnji.hr/vijesti/hrvatska/ministarstvo-financija-objavilo-rat-ilegalnim-kreditima-prijavite-sumnjive-oglase-a-nasi-inspektori-promptno-ce-reagirati/1061762/
Link 10. http://www.mfin.hr/hr/imatelji-odobrenja-ministarstva-financija-za-pruzanje-usluga-potrosackog-kreditiranja

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1 comment

And everything pointing back to corrupt Croatian government that does not want to instal good laws and consumer protection agency with sharp teeth.

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