Why Is Bank America Justified

The creation of the first national bank in the United States was of utmost importance in setting precedence for how much power the constitution actually grants the government. The debate over whether to create a national bank raised many questions over the constitution that hadn’t been tested before. It also raised questions about what the government can do when the constitution has no written clause on a certain subject. In looking at the arguments from Alexander Hamilton, James Madison, and Thomas Jefferson regarding a national bank, people can find out more about how some of the leading founders of the Constitution wanted to see the United States government run.

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

Jackson had deemed the Second Bank of the United States unconstitutional, that being one of the reasons for the shutdown of the bank. Apparently, The Second Bank of the United States was supposedly paying for politicians campaigns. This act act made the Bank of the United States very corrupt and unconstitutional, and Jackson thought that he needed to put and end to it for the greater good of the country. Andrew Jackson also had thought that the Second Bank had too much of a economic power in the country. “On one side was Andrew Jackson, Old Hickory, and his supporters who claimed the Bank was a threat to the republic due to its economic power.

This case analyses and discusses about the bank of America and Wells Fargo against the City of Miami. The Bank of America brought the case back to court after it was ruled against them in the first Federal appeal. According to the case, a plaintiff is considered to be “aggrieved” under the title VII with a condition that the person falls under title VII “zone of interest”. The two banks were alleged to be in the discrimination of the African-Americans and the borrowers from the Latino origins. There was a discriminated against issuance of mortgages which would likely lead to a foreclosure. The city lowered the tax revenues and increased spending towards the affected areas. The dimension of this lawsuit was using the fair house act (FHA) of the 1968 civil rights. This lawsuit helps in preventing discrimination of selling, renting and financing the house. The two questions presented include; after there was a limitation in the lawsuit regarding “aggrieved persons”, was there a requirement by the congress that the plaintiff was able to plead more than what the article III stated? The second question was, does the proximity causes require more than the actual possibility that the people defending are protecting the remote plaintiff 's loss of money through contingency chains? This essay aims to discuss the lawsuit and analyze the case fully together with predictions of the results, which might come out at the end of the lawsuit. The analysis of this case entails the

Bank of America is one of the largest banks in the nation. It is a multinational company and it is recognized by its high revenue value. Unfortunately, Bank of America has endured many complaints and harsh views regarding their lack of ethics. Ethical issues occur when there is a blatant disregard to implement integrity, trust, and responsibility. In some financial institutions, ethical matters are displayed in the way the consumers are treated. Within the past nine years, Bank of America has diminished all of their ethical promises by revealing customer information without their permission; discriminating against consumers based on their race; and manipulating overdraft fees in order to benefit the bank. In order to assess these problems, it is vital to recognize what Bank of America claims to stand for and determine where their most concerning issues are generated from.

On September 8 2016, the Consumer Financial Protection Bureau (CFBP) announced that it was taking an enforcement action against Wells Fargo Bank . Wells Fargo is a Fortune 100 company and one of the "Big Four Banks" of the United States. Investigations conducted by the Bureau revealed that employees of the bank created unauthorized deposit and credit card accounts across the country to meet sales goals. Over the years, the bank’s employees opened over 1.5 million fraudulent bank accounts and 0.5 million fake credit card accounts for customers, to meet sales targets and obtain bonuses. The affected consumers, were being harmed by the associated charges and fees for these accounts. The fees include insufficient funds or overdraft fees for the deposit accounts and annual fees for credit card accounts.

The ethics of the bank requires that there is ethics of integrity. It is supposed to be created through a culture in the bank and it should be one of the banks priorities because this is a business and they gain the profits from the people they serve on daily basis. Even if the bank shall survive this wave of scandal is so difficult now to convince any client to join this Wells Fargo which shall cause them a lot of money. Also all the old customers may start withdrawing and looking for other banks which they feel are more secure when they are keeping the money for them. It is so hurting and distrustful for a banking instead of accruing money in the accounts of their customers what they wells was doing was that it was misusing their money and giving them extra fees.

Carroll’s list of four responsibilities consist of economic responsibilities, legal responsibilities, ethical responsibilities, and discretionary responsibilities. In the video, I do see signs of Bank of America being concerned about discretionary responsibilities. According to our textbook, examples of discretionary responsibilities are philanthropic contributions, training the unemployed, and providing day-care centers. Although it is not discussed very much in the video, there are images of discretionary responsibilities being conducted such as Bank of America employees having a hand in building a home.

In September of 2016, it was revealed that there was alleged misconduct at one of the largest and safest banking institutions in the United States. Wells Fargo Bank was ranked among the nation’s safest financial institutions according to an analysis done by Global Financial, (Inside Tucson Business, 2009). Alleging that between May 2011 and July 2015, there were more than 2 million bank accounts or credit cards opened for customers without their knowledge or permission (Blake, 2016). Clients started complaining the they were receiving debit/credit cards from the bank that they had not ordered. Wells Fargo employees also started complaining that about the unethical behaviors they witnessed or were asked to participate in to the Human Resource Departments, the bank’s internal ethics hotline, branch’s individual managers and supervisors. All which led to the discovery of the fraud scandal.

Scandals in the business world are not an uncommon topic to appear in new headlines. Recently Wells Fargo has fired over 5,000 employees for creating over 2 million fake accounts. New bank and credit card accounts were created without prior knowledge from their customers. The accounts that were created resulted in those customers inquiring fees such as overdraft fees. These fake accounts have been created over a five-year timeframe.

The Bank of the United States is a symbol of the long held American fear of centralization and government control. The bank was an attempt to bring some stability and control and was successful at doing this. However, both times the bank was chartered, forces within the economy ultimately destroyed it. The fear of centralization and control was ultimately detrimental to the U.S. economy.

The reason how Well Fargo Bank is an ethical quandary would be how they had also have to pay the expensive for the people account that were victims and the 185 million dollar including for the fines.

Hiding or divulging information: Goldman bet against their clients several times. They knew material information on certain investment; however, they never communicated that to their clients because they were making money off them.

Bank of America is a banking and financial service industry located in Charlotte, North Carolina. If you would like to access the internet address for Bank of America, then you can click on this link provided https://www.bankofamerica.com . Its primary SIC Code is 6021 – National Commercial Banks, and its primary NAICS Code is 522110 – Commercial Banking. The Bank of American provides many goods and services for its customers such as banking, credit cards, loans, and investments. Every day Bank of America is competing against many competitors but JPMorgan Chase and Wells Fargo are some of the largest. Bank of America’s stock exchange ticker symbol is NYSE: BAC. The external auditor is PricewaterhouseCoopers LLP in Charlotte, North Carolina.

The bank’s strong brand recognition creates the potential to open new areas of growth for the company and its devotion to its customers is echoed through various awards it has received over the last few years. In January 2015, Bank of America “was named as a 2015 Military-friendly Employer by G.I. Jobs magazine” 4 and in 2014, it was “included among the list of 2014 Best Companies for Diversity by Hispanic Business magazine.” 4