In the world of finances, ethics are very important because business is based upon trust and integrity. The Finance industry functions around challenges taken by organizations and individuals; it is less likely to invest in an untrustworthy organization. In Case Study 8.3, the loan officer’s reports and opinions are important in the decision making process. They are given a high degree of trust and integrity. There are standards for managing and underwriting portfolios of loans. In order to maintain ones integrity (by being truthful) the company’s standards have to be implemented in all steps of managing and underwriting. Therefore, it was unethical to omit the owner’s credit card debt on the credit assessment.
As a bank employee, one’s loyalty …show more content…
If he has to continue to use his credit card to save him not only will he be creating more debt, but could his company could possibly close down in addition with the bank’s investment. If the company is under investigation, they will have proof that during the economic recession he was already 60,000 in debt. Questions or assumptions will arise because someone will have to take responsibility for the hidden information. By him not telling anyone it does put a hard working business owner out of business but his job is to report liabilities and that RV store is a major liability. If the business does not excel, the business owner will be out of a job as well as the bank auditor who withheld the information. “For if we go on sinning deliberately after receiving the knowledge of the truth, there no longer remains a sacrifice for sins” ( Hebrews 10:26, …show more content…
Some jobs insist employees to not use compassion, but we are human and we have passion. In this situation, the best way to balance the dealers and employees is for the manger to follow his heart and standards. It is likely to sympathize with the dealer but Amanda has an obligation and responsibility to her company. By him withholding information from the company, it is as if he is working for the dealer and not the company who employed him. It is common to show compassion but the dealer He is aware that he cannot have outstanding debt in his name because then he would be putting himself and the company at risk. “Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed” (Romans 13:7,
As a bank employee, one’s loyalty …show more content…
If he has to continue to use his credit card to save him not only will he be creating more debt, but could his company could possibly close down in addition with the bank’s investment. If the company is under investigation, they will have proof that during the economic recession he was already 60,000 in debt. Questions or assumptions will arise because someone will have to take responsibility for the hidden information. By him not telling anyone it does put a hard working business owner out of business but his job is to report liabilities and that RV store is a major liability. If the business does not excel, the business owner will be out of a job as well as the bank auditor who withheld the information. “For if we go on sinning deliberately after receiving the knowledge of the truth, there no longer remains a sacrifice for sins” ( Hebrews 10:26, …show more content…
Some jobs insist employees to not use compassion, but we are human and we have passion. In this situation, the best way to balance the dealers and employees is for the manger to follow his heart and standards. It is likely to sympathize with the dealer but Amanda has an obligation and responsibility to her company. By him withholding information from the company, it is as if he is working for the dealer and not the company who employed him. It is common to show compassion but the dealer He is aware that he cannot have outstanding debt in his name because then he would be putting himself and the company at risk. “Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed” (Romans 13:7,