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News Talk 2

William Rockefeller

Global Corporate Citizenship

Professor Midchamber

8 December 2017

News Talk 2

The corporate ethics issues never seem to end for Wells Fargo. The article that I would like to discuss is an article on CNN titled “Trump vows to punish Wells Fargo for ‘bad acts’”. I thought that this was relevant to this class considering we have discussed corporate ethics at great length. The Wells Fargo case is a perfect example of how a lack of corporate responsibility can have disastrous effects on not just the customers effected but the company as well. The reason that Wells Fargo is in such hot water is because of their mortgage lending abuse, the article describes it as “In October, Wells Fargo said some mortgage borrowers were inappropriately charged for a missing deadline to lock in promised interest rates, even though the delays were the bank’s fault.” This goes to show how a small error combined with a lack of judgment or a lack of ethics can lead to serious issues for a corporation. Before he resigned, the outgoing CFPB chairman had approved a possible settlement where Wells Fargo would be forced to pay tens of millions of dollars.

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