You have to Comment on this post (100 words reflection giving your opinion about

Question

You have to Comment on this post (100 words reflection giving your opinion about it )
Justice Department Probing Wells Fargo’s Wholesale Banking Unit
Wells Fargo Bank has been present in the news lately and not for good reasons. The financial institution has confronted several ethics issues in the past months. Due to the most recent scandal, the Justice Department is investigating whether employees committed fraud. A recent article in the Wall Street Journal talks about how employees improperly altered customer information, such as Social Security numbers and dates of birth, without consent. The Justice Department is investigating if there is a pattern of unethical and potentially fraudulent employee behavior due to management pressure.
Does it matter who an organization hires? Is it important to set up a code of ethics? Consequentialism is the ethical theory that judges human practices, such as actions or rules, based on their consequences. Human practices that produce good consequences are morally right, on the other hand, practices that produce bad consequences are morally wrong. I believe all the unethical behavior from employees is due to poor management, lack of training, not setting standards, and deficient hiring procedures. It is difficult to predict if a person would play a good role in their position or if he/she is an ethical person. However, the organization should establish a standard of conduct, and make very clear where the organization stands from day one. Another important factor that drove the organization into unethical procedures was the establishment of unreachable goals, and management pressure. The consequences of the fraud and unethical activity have brought irreparable reputation and financial damages to the company. They have lost a great number of customers, paid millions of dollars in fines, and lost the trust of the community. Not setting up a regime of behavior, making clear was is acceptable/ethical, and expecting goals that were unattainable drove Wells Fargo in a tunnel of uncertainty, bad reputation, and financial crisis. You have to Comment on this post (100 words reflection giving your opinion about it )
Justice Department Probing Wells Fargo’s Wholesale Banking Unit
Wells Fargo Bank has been present in the news lately and not for good reasons. The financial institution has confronted several ethics issues in the past months. Due to the most recent scandal, the Justice Department is investigating whether employees committed fraud. A recent article in the Wall Street Journal talks about how employees improperly altered customer information, such as Social Security numbers and dates of birth, without consent. The Justice Department is investigating if there is a pattern of unethical and potentially fraudulent employee behavior due to management pressure.
Does it matter who an organization hires? Is it important to set up a code of ethics? Consequentialism is the ethical theory that judges human practices, such as actions or rules, based on their consequences. Human practices that produce good consequences are morally right, on the other hand, practices that produce bad consequences are morally wrong. I believe all the unethical behavior from employees is due to poor management, lack of training, not setting standards, and deficient hiring procedures. It is difficult to predict if a person would play a good role in their position or if he/she is an ethical person. However, the organization should establish a standard of conduct, and make very clear where the organization stands from day one. Another important factor that drove the organization into unethical procedures was the establishment of unreachable goals, and management pressure. The consequences of the fraud and unethical activity have brought irreparable reputation and financial damages to the company. They have lost a great number of customers, paid millions of dollars in fines, and lost the trust of the community. Not setting up a regime of behavior, making clear was is acceptable/ethical, and expecting goals that were unattainable drove Wells Fargo in a tunnel of uncertainty, bad reputation, and financial crisis.
Justice Department Probing Wells Fargo’s Wholesale Banking Unit
Wells Fargo Bank has been present in the news lately and not for good reasons. The financial institution has confronted several ethics issues in the past months. Due to the most recent scandal, the Justice Department is investigating whether employees committed fraud. A recent article in the Wall Street Journal talks about how employees improperly altered customer information, such as Social Security numbers and dates of birth, without consent. The Justice Department is investigating if there is a pattern of unethical and potentially fraudulent employee behavior due to management pressure.
Does it matter who an organization hires? Is it important to set up a code of ethics? Consequentialism is the ethical theory that judges human practices, such as actions or rules, based on their consequences. Human practices that produce good consequences are morally right, on the other hand, practices that produce bad consequences are morally wrong. I believe all the unethical behavior from employees is due to poor management, lack of training, not setting standards, and deficient hiring procedures. It is difficult to predict if a person would play a good role in their position or if he/she is an ethical person. However, the organization should establish a standard of conduct, and make very clear where the organization stands from day one. Another important factor that drove the organization into unethical procedures was the establishment of unreachable goals, and management pressure. The consequences of the fraud and unethical activity have brought irreparable reputation and financial damages to the company. They have lost a great number of customers, paid millions of dollars in fines, and lost the trust of the community. Not setting up a regime of behavior, making clear was is acceptable/ethical, and expecting goals that were unattainable drove Wells Fargo in a tunnel of uncertainty, bad reputation, and financial crisis. Justice Department Probing Wells Fargo’s Wholesale Banking Unit
Wells Fargo Bank has been present in the news lately and not for good reasons. The financial institution has confronted several ethics issues in the past months. Due to the most recent scandal, the Justice Department is investigating whether employees committed fraud. A recent article in the Wall Street Journal talks about how employees improperly altered customer information, such as Social Security numbers and dates of birth, without consent. The Justice Department is investigating if there is a pattern of unethical and potentially fraudulent employee behavior due to management pressure.
Does it matter who an organization hires? Is it important to set up a code of ethics? Consequentialism is the ethical theory that judges human practices, such as actions or rules, based on their consequences. Human practices that produce good consequences are morally right, on the other hand, practices that produce bad consequences are morally wrong. I believe all the unethical behavior from employees is due to poor management, lack of training, not setting standards, and deficient hiring procedures. It is difficult to predict if a person would play a good role in their position or if he/she is an ethical person. However, the organization should establish a standard of conduct, and make very clear where the organization stands from day one. Another important factor that drove the organization into unethical procedures was the establishment of unreachable goals, and management pressure. The consequences of the fraud and unethical activity have brought irreparable reputation and financial damages to the company. They have lost a great number of customers, paid millions of dollars in fines, and lost the trust of the community. Not setting up a regime of behavior, making clear was is acceptable/ethical, and expecting goals that were unattainable drove Wells Fargo in a tunnel of uncertainty, bad reputation, and financial crisis. Justice Department Probing Wells Fargo’s Wholesale Banking Unit
Wells Fargo Bank has been present in the news lately and not for good reasons. The financial institution has confronted several ethics issues in the past months. Due to the most recent scandal, the Justice Department is investigating whether employees committed fraud. A recent article in the Wall Street Journal talks about how employees improperly altered customer information, such as Social Security numbers and dates of birth, without consent. The Justice Department is investigating if there is a pattern of unethical and potentially fraudulent employee behavior due to management pressure.
Does it matter who an organization hires? Is it important to set up a code of ethics? Consequentialism is the ethical theory that judges human practices, such as actions or rules, based on their consequences. Human practices that produce good consequences are morally right, on the other hand, practices that produce bad consequences are morally wrong. I believe all the unethical behavior from employees is due to poor management, lack of training, not setting standards, and deficient hiring procedures. It is difficult to predict if a person would play a good role in their position or if he/she is an ethical person. However, the organization should establish a standard of conduct, and make very clear where the organization stands from day one. Another important factor that drove the organization into unethical procedures was the establishment of unreachable goals, and management pressure. The consequences of the fraud and unethical activity have brought irreparable reputation and financial damages to the company. They have lost a great number of customers, paid millions of dollars in fines, and lost the trust of the community. Not setting up a regime of behavior, making clear was is acceptable/ethical, and expecting goals that were unattainable drove Wells Fargo in a tunnel of uncertainty, bad reputation, and financial crisis.

Explanation / Answer

Answer to the question:

There is always a relation of trust between a bank and a customer. A customer keeps his money deposited with the bank by giving all his personal information, as he thinks that his money will be safe there and also, he will earn some interest on the said deposits. But altering the private information of the customers by the errant and corrupt bank officials is highly unethical and unacceptable. Such fraudulant behavior must be dealt with strictly by the banks to establish an organizational standards to deal with such incidents. Every organization should have their own code of conduct so that their employees behave in the pre-established standards. Though an organization may not know the actual nature and behavior of the employees during their recruitment but these code of ethics or conduct will definitely set a measure for the employees for how to do their work ethically and they should also be told about the repercussions and consequences of such errant behavior, as such instances would put the name of the organization in bad books and it may even lose its business in future due to loss of face in the market.

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