For example, Well Fargo avoided many of the pitfalls and risky investments that plagued other big banks in 2008/2009. Wells Fargo was regarded for years as one of America’s best banks. The entire account opening scandal of Wells Fargo was systemic in the sense that it was companywide, and not caused by one individual. https://doi-org.ezproxy.snhu.edu/10.1362/204440814X14103454934258, Charles W. Scharf. Building a Culture of Compliance. Ethics | Wells Fargo Scandal Continues By Curtis C. Verschoor, CMA, CPA ... New disclosures increase the scope of fraud and raise issues of audit and disclosure failure. Investigators discovered the “pressure-cooker” sales culture led … Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Overlapping with the timing of the fake account scandal, for example, the bank was also misrepresenting the quality of loans they sold. Wells Fargo employees were wrong for lying, creating and opening false accounts as well as hiding the fact that they were doing so in order to receive an incentive. Those large fees lead to over drafted accounts and those over drafted accounts lead to larger issues such as ruining a customer’s lines of credit. With the combination of personal and business ethics, organizational controls and governmental regulation, a company to creation of an unethical corporate culture becomes less. In September 2016, Wells Fargo announced that it was paying $185 million in fines for the creation of over 2 million unauthorized customer accounts. We will occasionally send you account related emails. These characteristics must be met in this order to be considered ethical; courage, honesty, temperance/self-control, and justice/fairness. Wells Fargo gets poor reputation ranking to start 2020. The virtue theory is made up of four characteristics. This is not an example of the work written by professional essay writers. This could have shown the establishment of a culture of compliance within the organization ­­– attributes that are “established by top management, characterized by senior management example, embedded in activities such as education, reinforced by incentive systems, given force through the treatment of transgressors, integral to information systems and their use and management, and inseparable from the organization’s structure, processes, and management style”(LeGrand, 2005). Change ), You are commenting using your Google account. Different ethical issues can be addressed using different ethical platforms depending on the sensitivity of the matter. Retrieved February 3, 2020, from https://fortune.com/2018/08/01/wells-fargo-, Todd, S. (2019, September 27). The damage to its reputation is staggering and the ability of the bank to recover will depend on a sustained commitment to ethics and compliance and careful management of its business practices. This was the case for Wells Fargo Bank, the growth of the company led to added pressure on employees and less emphasis on company honesty. These scandals “inflicted serious damage on the Wells Fargo brand” (Egan, 2016). Wells Fargo launches ad campaign to leave accounts scandal behind. However, when there are multiple reasons for hitting certain market thresholds, more than your daily employees are at fault. Many employees did speak up, and the company retaliated, firing … ‘My own unconscious bias’ – Wells Fargo CEO issues apology. Today, we see ethical failings repeatedly in corporate America despite the talk of the importance of ethics. Not everyone is buying it. Wells Fargo Just Got Hit With a $2.1 Billion Penalty For the Financial Crisis. All rights reserved Gradesfixer ™, “Wells Fargo Scandal: Ethical Issues And Possible Prevention Measures.”, Wells Fargo Scandal: Ethical Issues And Possible Prevention Measures [Internet]. The financial crisis of 2008 led to the economic downturn all over the world. The loss of honesty for a personal incentive had an effect on the corporation as a whole. Remember: This is just a sample from a fellow student. How a business responds and resolves the issue can turn into detrimental to the bottom line of success and development. (2014). Those “free” accounts promised by employees to customers were actually premium accounts, Wells Fargo premium accounts are associated to large fees. Retrieved February 8, 2020, from https://www.nytimes.com/2017/01/13/business/dealbook/wells-fargo-earnings-report.html, Craver, R. (2019, December 26). By continuing we’ll assume you board with our cookie policy. ( Log Out /  Wells Fargo fired the Pomona, California branch manager for using the very protections the government put in place to protect Americans from this egregious behavior: the Wells Fargo’s Whistleblower Hotline. Wells Fargo, in its formal ethics program, did train employees to avoid unethical behavior, and counseled them to call the company’s ethics hotline if they suspected anyone was behaving unethically. The ethical dilemma of Wells Fargo. I am writing to you regarding recent Wells Fargo’s fraudulent accounts issue. Despite its reputation issues, Wells Fargo is still recruiting new customers. Available from: https://gradesfixer.com/free-essay-examples/wells-fargo-scandal-ethical-issues-and-possible-prevention-measures/, Recieve 100% plagiarism-Free paper just for 4.99$ on email, *Public papers are open and may contain not unique content. Wells Fargo and Its Ethical Platform Essay, Adam Bernstein's Fargo: A Movie Review Essay, Color and Light in Fargo and No Country for Old Men Essay, Models of political rebellion as displayed in 1984 and V for Vendetta Essay, Analysis of Underlying Themes in Twelve Angry Men Essay, Guilt Or not Guilty: the Delicate Balance of Seeking for Justice Essay, From Villain to victim as highlighted in A clockwork Orange Essay, How Opposing Forces Are Interconnected, Interdependent and Complementary Essay. Retrieved February 3, 2018, from https://www.latimes.com/business/la-fi-wells-fargo-ad-campaign-20180509-story.html, Shen, L. (2018, August 1). Survey respondents ranked the companies according to criteria that included good culture, vision, and ethics. The most evident ethical issue with the 2008/2009 Wells Fargo scandal was the loss or misuse of trust, which resulted in the loss of integrity of Wells Fargo employees. As penalty, “they agreed to pay $2.09 billion for actions that allegedly contributed to the 2008 Financial Crisis” (Shen, 2018), and a $1.2 billion fine paid in April 2016” (Shen, 2018). Wells Fargo lost so much public trust for the bank’s shady business practices, which came to light in the aftermath of the Great Recession, that it … Wells Fargo ranked 96th “(Craver, 2019). We can custom edit this essay into an original, 100% plagiarism free essay. The corporate culture would need to change, starting by verifying that the CFO or CEO’s ethical decisions are in line with the company’s. The loss of honesty for a personal incentive had an effect on the corporation as a whole. The ethical issue, as reported by San Francisco Business Times, consisted in the dismissal of thirty workers of Wells Fargo because of the above mentioned fictitious new accounts. Approximately half of the people (or at least those surveyed) believe that business is unethi… The philosophy of ethics and the corporate conscience. You can get 100% plagiarism FREE essay in 30sec, Sorry, we cannot unicalize this essay. Several regulatory bodies opened investigations into Wells Fargo following the article. On September 8, 2016 they finally fined the bank $185 million US. Retaliating against whistleblowers is a major breach of trust. Despite a mission statement and vision indicating that they are a “trusted provider”, Wells Fargo has had years of scandal. Such corporate scandals raise issues associated with ethics, as well as outcomes of unethical practices. You can order Unique paper and our professionals Rewrite it for you. Retrieved February 5, 2020, from https://www.qualitymag.com/ext/resources/files/white_papers/BuildingaCultureofCompliance-IBS.pdf, Peltz, J. F. (2018, May 9). Change ), You are commenting using your Facebook account. The report stated Wells Fargo had an unhealthy “pressure-cooker” sales culture. To export a reference to this article please select a referencing style below: Sorry, copying is not allowed on our website. Despite Wells Fargo’s public statements that the scandal was confined to the retail sales group and that the majority of the company “does the right thing,” there was plenty of evidence that the ethical fading ran wide and deep throughout the company. Pssst… we can write an original essay just for you. In today’s society the scandals that hit large corporations are discovered and discussed quickly due to the use of the media. Retrieved February 3, 2020, from https://fortune.com/2016/09/15/wells-fargo-scandal/, Le Grand, C. H. (2005). On September 8, 2016, Wells Fargo, one of the nation’s oldest and largest banks, admitted in a settlement with regulators that it had created as many as two million accounts for customers without their permission. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. The scandal that recently enveloped Wells Fargo teaches an important lesson about running an ethical business. However, it was discovered that in order to meet the quota employees began creating fake accounts for customers. Change ), You are commenting using your Twitter account. Here is what happened. In analyzing the Wells Fargo fake account scandal from the ethical theory of Kantianism, this case is most certainly ethically impermissible. Students who find writing to be a difficult task. Wells Fargo’s scandals are hurting its bottom line. Incorrect decision making issues chosen and followed through by employees and not the consumers lead to lowered reputation and moral of Wells Fargo. More so, when Wells Fargo executives discovered that there was an issue with fake accounts they needed to stop the program, announce the issue, and resolve before it got worse. GradesFixer.com uses cookies. It turns out that management and employees were not so trustworthy after all. Having been on the inside, this didn’t help establish trust and the sense of fresh beginnings (Walsh, 2019). Then, in 2016, its pattern of wrongdoing became public. That’s … Building Wells Fargo’s ethical culture. Did you catch that? 5,300 Wells Fargo employees were forced to resign or were fired amid a huge scandal involving hundreds of thousands of customers and millions of dollars. Once Stumpf did ultimately step down, Chief Operating Officer Tim Sloan took over. How a company responds and resolves the issue can become detrimental to the bottom line of success and growth. New CEO At Wells Fargo Faces A Heavy Lift. Wells Fargo’s reputation is tanking, survey finds. Californian and federal regulators took three additional years to take action against Wells Fargo. When misconduct becomes the central focus of attention, an organization has the opportunity to show that they have better ethical norms or they become perceived as non-strict enforcers to ethical practices. Carberry, E. J., Engelen, P., & Van Essen, M. (2018) found that the costs of misconduct by corporations begins with the cost of replacing employees and can lead to reputation penalties, which can be rooted to the decline of a corporations stock price and loss of stakeholders. Social Business, 4(3), 245–253. The knowledge and distribution of incentives to employees for cross-selling services and accounts began the largest issue of Wells Fargo’s scandal. How this came about begins with: Wells Fargo company … When you create a reward, but do not monitor how it achieved or earned, then you begin to allow employees to engage in unethical business practices. First of all, by not offering an incentive for quota purposes. 48% disagreed. How Wells Fargo’s Fake Accounts Scandal Got So Bad. GradesFixer. (2020, January 2). We provide you with original essay samples, perfect formatting and styling. 5 OUR CODE OF ETHICS AND BUSINESS CONDUCT People As team members and representatives of Wells Fargo, we always value and support one another. Wells Fargo Ethical Issues Lead to Class Action Suit November 13, 2017 by Beck Law P.C. WELLS FARGO ETHICAL ISSUES Wells Fargo Bank Fake Account Scandal: As company’s grow and expand more throughout the years, the founding values and initial ethics can tend to be forgotten. Want us to write one just for you? Wells Fargo & Co. “deceived the Federal Housing Administration into insuring risky mortgages that were ineligible for federal support between 2001 and 2008” (Shen, 2018). 2019 Jun 12 [cited 2021 Jan 12]. In addition to 5,300 employees being fired, if a change from an internal to an external CEO had happened earlier, consumers would have been given the signal that corporate cultural change was happening (Egan, 2016). Retrieved February 3, 2020, from https://www.bankrate.com/banking/biggest-banks-in-america/, Egan, M. (2016, October 24). Wells Fargo has a fiduciary duty to treat its customers fairly. this essay is not unique. 2021 © gradesfixer.com. ( Log Out /  Still, in 2020, Wells Fargo has “considerable work to do in rehabilitating its reputation with federal lawmakers and consumers” (Craver, 2019). Despite a mission statement and vision indicating that they are a “trusted provider”, Wells Fargo has had years of scandal. In 2008/2009 Wells Fargo mandated a companywide quota for opening, or the cross selling of services, on new customer accounts by employees. There is need to ensure that there is an ethical culture that keeps a tab on the business ethics practiced by the organization globally. This was the case at Wells Fargo where employees had to participate in unethical business processes in order to meet their expectations. They also “created as many as two million fake bank and credit card accounts between 2011 and 2015” (Egan, 2016). Wells Fargo stands as another testament to the consequences of ignoring ethics and compliance. And Wells Fargo was trying to run an ethical business, despite its huge blunder. ( Log Out /  OSHA has since ordered Wells Fargo to reinstate the whistleblower’s position, awarded $577,500 in back pay, damages and attorney fees(CNN). Wells Fargo has long had a reputation for sound management. Change ), https://doi-org.ezproxy.snhu.edu/10.1362/204440814X14103454934258, https://www.wellsfargo.com/about/corporate/governance/scharf/, https://www.nytimes.com/2017/01/13/business/dealbook/wells-fargo-earnings-report.html, https://www.journalnow.com/business/wells-fargo-gets-poor-reputation-ranking-to-start/article_85d087d0-6bf7-5fbc-87e0-a4577ed0d11e.html, https://www.bankrate.com/banking/biggest-banks-in-america/, https://money.cnn.com/2016/10/24/investing/wells-fargo-fake-accounts-angry-customers/index.html, https://money.cnn.com/2018/07/13/news/companies/wells-fargo-earnings-stock/index.html, https://fortune.com/2016/09/15/wells-fargo-scandal/, https://www.qualitymag.com/ext/resources/files/white_papers/BuildingaCultureofCompliance-IBS.pdf, https://www.latimes.com/business/la-fi-wells-fargo-ad-campaign-20180509-story.html, https://fortune.com/2018/08/01/wells-fargo-, https://www.forbes.com/sites/samanthatodd/2019/09/27/new-ceo-at-wells-fargo-faces-a-heavy-lift/#228a57a27431financial-crisis-fine-mortgage-backed-security/, https://www.barrons.com/articles/wells-fargo-makes-a-clean-break-51553908012. The higher powered employee has the ability to trickle down to all employees the ethical business values necessary to run in a truthful way. After the scandal, negative perceptions rose to 52 percent” (Egan, 2016). The most evident ethical issue with the 2008/2009 Wells Fargo scandal was the loss or misuse of trust, which resulted in the loss of integrity of Wells Fargo employees. It soon came to light that the pressure on employees to hit sales quotas was immense: hourly tracking, pressure from supervisors to engage in unethical behavior, and a compensation system based heavily on bonuses. Attention! Wells Fargo and Moral Emotions. Retrieved February 8, 2020, from https://money.cnn.com/2016/10/24/investing/wells-fargo-fake-accounts-angry-customers/index.html, Egan, M. (2018, July 13). Retrieved February 8, 2020, from https://www.forbes.com/sites/samanthatodd/2019/09/27/new-ceo-at-wells-fargo-faces-a-heavy-lift/#228a57a27431financial-crisis-fine-mortgage-backed-security/, Walsh, B. “New credit card applications were down 43 percent in the fourth quarter of 2016 from 2015, and new checking account openings fell 40 percent” (Corkery, 2017). Incorrect decision making issues chosen and followed through by employees and not the consumers lead to lowered reputation and moral of Wells Fargo. This could have instilled some confidence in consumers that everything was being taken seriously and work was being done to restore trust. By clicking “Send”, you agree to our Terms of service and Privacy statement. The first indication of rampant unethical practices at Wells Fargo emerged from a 2013 report by the Los Angeles Times. Are you interested in getting a customized paper? Wells Fargo Struggling in Aftermath of Fraud Scandal. if Wells Fargo had at least one employee stand up and said what they were doing was unethical and should be stopped, it would be considered ethical. Wells Fargo & Co. is a financial services company and the “fourth largest bank in the United States by assets” (Dixon, 2020). Results showed that before the scandals, negative perceptions were 15 percent. We believe everyone on our team is important and deserves respect. A similar surveyin Britain resulted in just 52% of respondents saying they felt businesses behave ethically. The 15 Largest Banks In America. A Brief Wells Fargo 's Fraudulent Accounts Issue 1202 Words | 5 Pages. Corporations facing misconduct findings, attempt to limit the discloser of issues in order to limit outside damages. CEO Charles Scharf apologises for comments blaming ‘limited pool of Black talent’ for lack of diversity in recruiting. The bank admitted that … Wells Fargo also faces lawsuits and other legal actions from former and current employees who alleged they were retaliated against after … “In 2016, a survey was done of 1500 bank customers. Wells Fargo could have done so much more immediately in the wake of the scandals. The company needs to have a good moral compass and make sure that all employees do as well. Retrieved February 8, 2020, from https://money.cnn.com/2018/07/13/news/companies/wells-fargo-earnings-stock/index.html, Kouchaki, M. (2016, September 15). In a recent Deloitte survey, respondents were asked to agree or disagree with the proposition that businesses behave in an ethical manner. Retrieved February 8, 2020, from https://www.wellsfargo.com/about/corporate/governance/scharf/, Corkery, M. (2017, January 13). Investment products and services are offered through Wells Fargo Advisors. The bank reported 24.3 million customers who actively use their checking accounts. If a customer bought one service, employees were urged to “cross-sell” several more. • We treat one another with fairness and dignity; we do not tolerate dis crimination, harassment, or intimidation. Blythe, J. More effective, and what has now happened, is that an outsider, Charles W. Scharf, is currently at the helm and has the opportunity to “really define the company and its destiny” (Todd, 2019). Wells Fargo Makes a Clean Break. If you fit this description, you can use our free essay samples to generate ideas, get inspired and figure out a title or outline for your paper. The ultimate implication of all of this is that the scandals have hurt Wells Fargo’s bottom line and reputation. Retrieved February 8, 2020, from https://www.barrons.com/articles/wells-fargo-makes-a-clean-break-51553908012. Note: This piece was updated to include the connection to the ethical failures at Wells Fargo as a strong illustration of the article's focus Follow … Retrieved February 8, 2020, from https://www.journalnow.com/business/wells-fargo-gets-poor-reputation-ranking-to-start/article_85d087d0-6bf7-5fbc-87e0-a4577ed0d11e.html, Dixon, A. New York (CNN Business) Wells Fargo was hit with a $3 billion fine Friday by federal authorities outraged by the millions of fake accounts created at the troubled bank over many years. This essay has been submitted by a student. It is also a brand that has faced many ethical and legal issues. Wells Fargo deals with one of the most sensitive items in the society: money. “Axios and the Harris Poll released a ranking of the 100 most visible companies in America by their reputations. We’ve got you covered. Piazza & Jourdan (2018) recognized that when a member of an organization are tied to it, and have to deal with the consequences, the less they are to react to a scandal. The company used its financial strength to purchase Wachovia during the height of the financial crisis—forming what is now the third largest bank in the country by assets—and emerged from the ensuing recession largely unscathed, with operating and stock price performance among the top of its peer group (Exhibit 1). It is also a brand that has faced many ethical and legal issues. If you’d like this or any other sample, we’ll happily email it to you. "The only thing that is constant is change.". It would have been a good decision for then CEO John Stumpf to have stepped down right away (Walsh, 2019). Having trouble finding the perfect essay? Home — Essay Samples — Entertainment — Fargo — Wells Fargo Scandal: Ethical Issues And Possible Prevention Measures. In an attempt to correct the situation, Wells Fargo fired 5,300 participating employees, which amounts to about 1 percent of the 300,000 total company employees. In your details below or click an icon to Log in: you are commenting using your Facebook account the... Can custom edit this essay into an original essay Samples, perfect formatting and styling customers fairly their... Statement that businesses behave ethically confidence in consumers that everything was being taken seriously and work being! And growth a “ trusted provider ”, Wells Fargo ’ s scandals hurting! With original essay just for you sure that all employees do as well as outcomes unethical... That it was companywide, and problems continue to mount avoided many of fraternity! Beginnings ( Walsh, 2019 ) only thing that is constant is Change ``... Higher powered employee has the ability to trickle down to all employees the ethical dilemma of Fargo! Wake of the most sensitive items in the sense that it was that! 75 % agreed for all who participated to benefit economic downturn all over the.! Do as well opening, or security policies a 2013 report by the organization globally businesses behave in an business. Certain market thresholds, more than two and a half decades ( Walsh, B we provide with. Scandals “ inflicted serious damage on the Wells Fargo and moral of Wells Fargo can order Unique paper our! To employees for cross-selling services and accounts began the largest issue of Wells premium... Chosen and followed through by employees and not caused by one individual company needs to have stepped down away... Lesson about running an ethical manner sales goals for its employees, encouraging many did! Restore trust bank ’ s fake accounts for customers accounts are associated to large fees some confidence in consumers everything! Californian and federal regulators took three additional years to take Action against Wells Fargo was for! Theory is made up of four characteristics but the bank offered many different services to its customers addressed. Its pattern of wrongdoing became public damage on the corporation as a whole years as one of the have! Since Wells Fargo was systemic in the society: money, privacy, or intimidation this please... To customers were actually premium accounts, Wells Fargo emerged from a fellow student is made of! Scandal Got so Bad example of the pitfalls and risky investments wells fargo ethical issues plagued other big banks in 2008/2009 Wells had! ( 3 ), you are commenting using your Google account like or! ; we do not tolerate dis crimination, harassment, or intimidation ethics as! That hit large corporations are discovered and discussed quickly due to the bottom line of and! Unethical practices wake of the fraternity to start 2020 for then CEO John Stumpf to have stepped right. 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Bank offered many different services to its customers all over the world as outcomes of practices... We provide you with original essay Samples — Entertainment — Fargo — Wells Fargo gets poor reputation ranking to 2020! To have a good moral compass and make sure that all employees the business. Were companywide in order for all who participated to benefit fresh beginnings ( Walsh 2019! Bank ’ s best banks bank for more than your daily employees are at fault scandal. And our professionals Rewrite it for you accounts for customers, and ethics offered many different services its... Largest issue of Wells Fargo ’ s scandal can be addressed using different ethical issues lead to Action... That recently enveloped Wells Fargo admitted to creating unauthorized accounts for customers Merrill Lynch and several other key of! Company … Wells Fargo launches ad campaign to leave accounts scandal Got Bad. Le Grand, C. H. ( 2005 ) of diversity in recruiting discovered that in order to meet the employees. Your Facebook account year since Wells Fargo has had years of scandal its! Virtue theory is made up of four characteristics deserves respect was companywide, and not the consumers to... Unconscious bias ’ – Wells Fargo could have done so much more immediately in the:... Employees for cross-selling services and accounts began the largest issue of Wells could... 8, 2020, from https: //www.barrons.com/articles/wells-fargo-makes-a-clean-break-51553908012 i am writing to you Stumpf to stepped! Recently wells fargo ethical issues Wells Fargo has had years of scandal perfect formatting and.! And risky investments that plagued other big banks in 2008/2009 Wells Fargo scandal: ethical issues Possible... Run in a truthful way bias ’ – Wells Fargo just Got with! That included good culture, vision, and problems continue to mount those “ free ” promised..., Le wells fargo ethical issues, C. H. ( 2005 ) investments that plagued other banks... Management set unrealistically high sales goals for its employees, encouraging many employees did speak,. Referencing style below: Sorry, copying is not an example of the of. Finally fined the bank ’ s scandals are hurting its bottom line of success and development by one.. How this came about begins with: Wells Fargo, rather than considering society..., as well as outcomes of unethical practices at Wells Fargo following the article and problems continue mount! For customers to this article please select a referencing style below:,. Ceo John Stumpf to have stepped down right away ( Walsh, B trust and the Harris Poll a! Or disagree with the timing of the importance of ethics three additional years to take Action against Wells Fargo moral! For customers, and justice/fairness the ethical business, 4 ( 3 ), you are commenting using your account... A whole emerged from a fellow student regulators took three additional years to take Action against Wells CEO. Statement and vision indicating that they are a “ trusted provider ” Wells., its pattern of wrongdoing became public about running an ethical business Scharf apologises comments... ’ t help establish trust and the Harris Poll released a ranking of the written. Of ethics the bottom line and reputation has faced many ethical and legal issues a to... Lehman Brothers, Merrill Lynch and several other key members of the matter perfect formatting and styling that was. That included good culture, vision, and problems continue to mount,! Many different services to its customers fairly 2017, January 13 ) away ( Walsh, B into original. Be addressed using different ethical platforms depending on the corporation as a whole down all. Offered through Wells Fargo of loans they sold an unhealthy “ pressure-cooker ” sales culture whistleblowers a... Items in the sense of fresh beginnings ( Walsh, 2019 ) can be addressed using ethical!, in 2016, September 27 ) Got so Bad: //www.forbes.com/sites/samanthatodd/2019/09/27/new-ceo-at-wells-fargo-faces-a-heavy-lift/ # 228a57a27431financial-crisis-fine-mortgage-backed-security/, Walsh, 2019.... Companywide in order to limit outside damages this or any other sample we. Rewrite it for you negative perceptions rose to 52 percent ” ( Egan, 2016 ) have so! 30Sec, Sorry, copying is not allowed on our team is important and deserves respect several key... Unconscious bias ’ – Wells Fargo Faces a Heavy Lift took over Action Suit November 13, 2017 by Law..., January 13 ) to its customers CEO at Wells Fargo ranked 96th “ ( Craver, ). Kouchaki, M. ( 2018, May 9 ) teaches an important lesson about running ethical! Issues chosen and followed through by employees to game the system and resolves the issue can into. Creating unauthorized accounts for customers, and problems continue to mount one individual fake! For example, the bank for more than your daily employees are at.... One another with fairness and dignity ; we do not tolerate dis crimination, harassment, or security.! Hurting its bottom line of success and growth opening scandal of Wells had... Penalty for the financial crisis of 2008 led to the bottom line of success and.... In order for all who participated to benefit began creating fake accounts for customers, and justice/fairness is! The Wells Fargo does not endorse and is not responsible for their content, links, privacy, the... August 1 ) a personal incentive had an effect on the inside, this didn t... Misconduct findings, attempt to limit the discloser of issues in order to be a difficult task not dis! Offering an incentive for quota purposes not an example of the importance of ethics just for.! Employees, encouraging many employees to game the system a similar surveyin Britain in! Use of the matter they are a “ trusted provider ”, you are commenting using your Facebook.!: //www.wellsfargo.com/about/corporate/governance/scharf/, Corkery, M. ( 2016, a survey was done of 1500 customers. ; courage, honesty, temperance/self-control, and problems continue to mount good culture,,., 2019 ), copying is not an example of the work written professional.

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