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be socially responsible, it is always important to ensure that decisions are ethically made. There is a recent business incident showing the significance of making an ethics-focused decision with its ethics parameters. On May 5, 2015, Wells Fargo Bank is sued…

“We want to satisfy all our customers’ financial needs and help them succeed financially . . . We believe our customers can save more time and money if . . . they bring all their financial services to one trusted provider” (Farfan, 2016, para. 1). Wells Fargo’s mission and vision provide its employees with clear cut directions and desired outcomes in which the founder and stakeholders which to take it (Parnell, 2016). With such a clear vision, no one would expect reports of former Wells Fargo…

becoming a leading freight and bank company in the West. Wells Fargo was founded by several investors Henry Wells and Williams Fargo, hence the two last names combined, Wells Fargo. They both sought to profit off the huge demand of gold in 1849, so then the company in 1852 starting transporting their first loads of freight between mining companies and the East Coast. Wells Fargo made profits by both working as a bank, and also being freight. They gave out loans as a bank, and also worked on the…

Conglomerates are a combination of two corporations that sell totally different products that form one group. Conglomerates come together because they can both share their resources and contacts to enhance their profits. JPMorgan Chase is an example of a conglomerate because JPMorgan & Co and Chase Manhattan Co, merged together to form JPMorgan Chase. JPMorgan Chase is a company where they provide financial services, financial transactions processing, private equity, commercial banking, etc. The…

On that same hand employee retention consistently remained low for over six years until this past quarter where Wells Fargo saw the lowest level of turnover. This could very well be because of the drastic changes occurring within the company because of the scandal. No longer are employees required to hit unrealistic sales goals or be pitted against one another in order to receive bonuses. Also doing what is truly right by their customer probably feels good after so long of working against the…

ASSIGNMENT REPORT ON FAKE BANK ACCOUNTS SCAM IN WELLS FARGO BANK USA 1. Describe what happened. The case in discussion here is opening of unauthorized and fake bank accounts by employees of Wells Fargo Bank all over US. Various employees in Wells Fargo Retail stores all over the country signed up customers for various products like a new checking accounts, debit accounts, credit card accounts without their approval or consent. The employees then used to transfer money from the customers…

Money is a part of our everyday life. Without money, we would not have most of the stuff that we have today such as our clothes, vehicles, or even our homes. There are many different ways to using money and how you tend to spend it. Some people may prefer to have cash in their pockets while others tend to put money in their bank accounts using credit cards, but the real question is, which is better? Both cash and credit cards are very convenient. However, in certain circumstances you might be…

‘Total Market Approach’ Threading Messages through Multiple Cultures” Wells Fargo uses a “total market approach” as their target market. (Sullivan, 2015) This means that Wells Fargo target market is everyone. This is evident when you go to their home page see services offered not only for individuals, but also for small businesses and for corporations (14). Instead of focusing on attracting one or two types of customers they are interested in reach a diverse group of customer. (Sullivan,…

Wells Fargo’s Ethical Scandal It was a bank heist greater than the Brink's job in 1950, however, the brigands used no ordinary firearms or getaway vehicles. As opposed to being quick on the draw, they had quick fingers on computer keyboard and mouse. Over the course of four years, The Wells Fargo Bank of San Francisco, had at least 5,000 employees opened more than a million fake bank and credit card account on behalf of innocent customers. This monumental scandal that broke the basic principle…

individuals, corporations, small businesses, governments, universities…the list goes on. If an entity can bank, they can bank with JPMorgan Chase & Co. 60.6 million households have at least one consumer banking account with Chase—roughly half of American households. Chase is the number one credit card issuer in the United States, the number two mortgage issuer, and the number three automobile loan issuer. J. P. Morgan is the leading source of debit capital for governments and non-profits in the…