Wells Fargo Ethical Issues

The Wells Fargo scandal involved a variety of stakeholders who have stake in the issue; however, the main stakeholders include the consumers, the employees and their families, and stockholders of the organization. The affect these stakeholders suffer varies, but the ultimate affect the scandal has had is violation of trust by Wells Fargo and its leadership. When examining this situation, the main stakeholders who suffered the greatest harm from the scandal were the customers who fell victim to the fraud and had their privacy violated by an organization they trusted. In the course text, Trevino and Nelson spoke of the importance of trust and its importance in a service economy. Wells Fargo violation of the consumers’ trust has ultimately added

The 17 banks are from all around the world, from countries such as France, America, and even Italy. The sponsors are all major banks, for example, Citibank, which is one of the most famous banks in the United States of America. Having fundings from around the world and famous banks make this project even more valuable for the construction workers to build. There are 4 Japanese banks included in the 17 banks that are cooperating with building the pipeline. The 4 banks are The Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, SMBC Nikkon Securities and Sumitomo Mitsui Bank. People in Japan have limited knowledge on this topic because the Japanese Media such as NHK ignored this, except for Line News. These 17 sponsors make the media avoid talking about the Dakota Access Pipeline because one of the 17 banks may be a member of the media’s sponsors. If the sponsored news organization decided to talk about the pipeline’s protests and that the protesters are being abused even though they are unarmed, the banks will not sponsor the news company anymore. Therefore, media corporations cannot mention the Dakota Access Pipeline for the purpose to protect their

Wells Fargo has one of the longest and storied histories of any of today’s companies. The company was established by Henry Wells and William G. Fargo, who also co-founded the American Express, and several other investors in 1852. The company was to provide express banking services in California, which caught their attention due to the economic boom of the gold rush. They offered many diverse services and continually merged or took over existing companies to become the leader in western transportation by the end of the 1860’s. They have continued to adapt and grow by demonstrating innovations like establishing the transcontinental Express line during the emergence of the railroads and identifying and branching out into other areas throughout the years.

The Sarbanes-Oxley Act of 2002 was put in place to prevent corporations from committing accounting fraud or corruption. When a corporation manages somehow to get passed all the laws they do anything to keep the corruption going by covering up everything. With this going on the company’s main focus is keep the lies going and firing whoever is in the way. Wells Fargo has stated that they have fire over a hundred thousand people throughout the nation for being a part of the illegal activity in the company. Unfortunately for Wells Fargo employees are coming out from hiding telling their side of the story.

Recently Dakota Access pipeline is running the headlines. Native American tribes and their partners, drove by the Standing Rock Sioux, have been challenging the Dakota Access pipeline, a venture that would transport oil from the Bakken oil fields in North Dakota and Montana over the Plains to Illinois. The nonconformists, numbering in the thousands and including individuals from several distinct tribes, contend that finishing the pipeline would profane hereditary grounds, undermine the water supply, and unjustifiably trouble the Standing Rock Sioux tribe, which is probably not going to profit by any financial advancement that goes with the venture. Energy Transfer Partners, the enterprise behind the pipeline, recommends the venture will prompt to more noteworthy monetary advancement and expanded security and productivity contrasted with the trains that presently convey Bakken unrefined petroleum (Harris and Gonchar, 2016).

The Better Business Bureau (BBB) is a well known self-regulatory trade association in the United States. Companies that adhere to self regulation standards meaning the business will exhibit best practices and social responsibility. The BBB creates self regulatory programs for its members and uses the internet, newspaper, and media to inform the public of businesses who have violated self regulatory rules. The BBB's membership dues are around $425. The BBB's purpose is to establish a place of trust between business and consumers, as well as, dispute and complaint resolution services, reliability reports, and arbitration.

And since the pipeline has been projected to travel onto sacred lands, crossing the Missouri river twice, The Standing Rock Sioux Tribe has taken a stand. The detrimental consequences of the pipeline is one that we simply can't afford to take. The Tribe congregated in protest to help prevent the pipeline. That small protest grew into a demonstration of over 4,000 people a day that took place the construction site of the pipeline. These peaceful demonstrations were aimed to stop construction as well as an agenda to bring awareness to water conservation- the pipeline project has the immense propensity to pollute beyond any hopes of drinking, and could destroy all living creatures around it. I need remind everyone of the BP site in the Gulf whose consequences still affect the environment

The Better Business Bureau is believed to have a reputation of protecting consumers and businesses from fraudulent scammers and unreliable firms, there were several unethical occurrences and allegations that led consumers to feel otherwise towards a company that has the reputation of trust. According to the Ermongkonchai (2010) study, “the main reason of employee misconduct was identified with personal or financial gain” (Pg125). It appeared that the Better Business Bureau had several bouts of unethical misconduct that lead to a ruined reputation and questioning of the firm's values.

(1)Most adults can certainly agree that they hate bank fees. Even worse than paying bank fees, is paying a fee on a ghost account you did not know existed. Wells Fargo is a successful American International Financial Institution, but in recent years have been involved in a scandal that has hurt their reputation.

Wells Fargo Corporate Social Responsibility initiates of diversity and inclusion, economic empowerment, and corporate sustainability have contributed to social change in many ways that worthy of highlighting in this paper. However, I have selected to feature the following organizational activities related three social change and sustainability causes: (1) developing advanced clean technology, innovation and environmental solutions, (2) increase financial literacy and self-sufficiency, and (3) and advancing the need for diverse and inclusive businesses and leadership.

Wells Fargo is a well known banking company that has recently been in the news for some not-so-good reasons. The Wells Fargo company has been around for a long time and is trusted by their many customers to treat them fairly when it comes to opening new accounts or managing current accounts. However, according to some of Wells Fargo’s team members (what they call their employees), Wells Fargo has “strict mandates to sign existing customers up for additional products,” (Davidson 1). This means that they want their customers to open new accounts, get new credit cards, transfer a 401(k), and/or take out a mortgage. Since most customers refuse to do so, some of the employees thought that they should go ahead and open new accounts without the customers’ consent. This later back fired when the customers received late notices on payments for the accounts they did not agree to open and did not know they had. Similar actions were happening at Wells Fargo banks

Despite the benefits that the proponents of the project such as the federal government, energy regulatory authorities (such as the IUB), and the oil producers (Energy Transfer Partners L.P) and suppliers have elucidated. North Dakota oil pipeline has attracted numerous controversies with different groups such as farmers, landowners, natives, and environmental activist organizing consistent protests aimed at stopping its construction. This paper seeks to discuss the controversy that North

Despite the benefits that the proponents of the project such as the federal government, energy regulatory authorities (such as the IUB), and the oil producers (Energy Transfer Partners L.P) and suppliers have elucidated. North Dakota oil pipeline has attracted numerous controversies with different groups such as farmers, landowners, natives, and environmental activist organizing consistent protests aimed at stopping its construction. This paper seeks to discuss the controversy that North Dakota oil pipeline has

We are proud to partner once again with Wells Fargo, an organization that is actively involved in the communities where its employees live and work and committed to supporting local nonprofits.

While the Better Business Bureau is set into place to set ethical guidelines and standards for companies to follow and customers to benefit from, this does not prevent unethical and dishonest actions from happening. Similar to the Red Cross Foundation, it appears that when organizations have many or several local chapters it makes it extremely difficult to monitor them through their everyday functions. I do not feel that the Better Business Bureau is effective in ensuring that companies behave ethically to protect the consumer, due to the fact that many organizations have memberships with the company. I do feel like this skews the ratings and leaves an excessive amount of room for error and unethical mismanagement.In my opinion, it seems rather