The Marriage: The Engagement
Government loan programs: taxpayers on hook for misuses
- Canada Small Business Financing Act
- Government guaranteed loan approved extremely quickly
- Government guaranteed loans, abolish program
- Government guaranteed loan program very attractive to fraud
- Tax subsidy
- Unfunded taxpayer liability
- U.S. Small Business Administration
- Very low lending loss risk
- Why should we care? It's not our money.
Predatory franchise lending
- Auditor General of Canada
- Bank Act, Canada
- Bank complaint process protects those who pay their salaries
- Bank fraud
- Bank pays franchisor with franchisee's funds
- Bank refuses to provide mandatory documents
- Bank violates federal privacy laws
- Canada Small Business Financing program
- Canadian Franchise Association, CFA
- Complaint letter to franchisor's trade association
- Conspiracy to commit fraud
- Difference between appraised and market value equipment and leaseholds funds fraud
- Financial Consumer Agency of Canada, FCAC
- Franchising Opportunism
- Fraudster banker
- Government guaranteed loan disbursed before disclosure document seen
- Government guaranteed loan disbursed before franchise agreement seen
- Government guaranteed loan filled out by sales agent
- Government guaranteed loan made without proper security
- Government guaranteed loan misapplied
- Industry Canada
- Lending duty
- Lending is subject to expert fraud because it is a credence good service
- Loan pushing
- Minister of Finance
- Most lucrative form of commercial lending, franchising
- Ombudsman for Banking Services and Investments, Canada
- Office of the Prime Minister of Canada
- Office of the Privacy Commissioner of Canada
- Only opening new stores for the quick cash grab
- Ontario Minister of Consumer and Business Services
- Oudovikine
- Predatory actions
- Predatory franchise lending
- Sold used equipment when franchisee thought it would be new
- Sue lender for failing to do their lender's due diligence
- Sue the appraiser
- Sue the sales agent
- U.S. subprime mortgage scandal
- Unauthorized funds transfer by bank
Banks lend very hard
- Asset appraisals inflated
- Asset-based lending
- Bank calls in debt
- Bank CEO's pay
- Bank fails to inform Privacy Commission of breach
- Bank has a higher standing as creditor than fraud victims
- Bank presents offer with material facts missing
- Bank renegotiates loan with greater personal guarantees than allowed by law
- Bank stock price seemingly impervious to scandal
- Bank sues person they gave documents to
- Banks
- Banks allegedly mastermind fraud
- Funding for advocacy groups if you toe the line
- Lender's due diligence not done properly
- Lending risk much lower
- Non-bank lender
- Only saw bank official once before loan granted
- Predatory lending
- Regulatory capture breeds its own incompetence
- Sub-prime lending
- Towers of gold, feet of clay
Lending professionals?
- Bank allows franchisor to take money from franchisee's account over the lending agreement limit
- Banks collude
- Death-spiral financing
- Documents changed without authorization
- Enron-like scandals
- Loans to be paid but no asset received
- Private-equity financing buy-and-flip
- Responsible for a loan they did not sign for
- Securitization
- Signed only last page of form but several copies
- Structured finance deals
