Wells Fargo Essays (Examples)
Study Document
Wells Fargo Collateral Protection Insurance Scandal
wells fargo Scandal
The wells fargo Collateral Protection Insurance (CPI) Scandal occurred as a result of the banking firm placing CPI on accounts even though the account holders did … holders did not ask for it or want it. It resulted in customers paying unnecessary and higher fees over a period of time. wells fargo was sued and agreed to settle the case out of court for approximately $400 million without admitting fault (Top Class Actions, 2019). The … agreed to settle the case out of court for approximately $400 million without admitting fault (Top Class Actions, 2019). The scandal, however, caused wells fargo to lose a great deal of reputation: customers began leaving the bank in droves and the firm suddenly found itself wondering how it … to be asking what the right thing to do was, as Horowitz (2011) notes in his TEDx Talk. This paper will discuss……
References
References
Forsyth, D. R., & O’Boyle Jr, E. H. (2011). Rules, standards, and ethics: Relativism predicts cross-national differences in the codification of moral standards. International Business Review, 20(3), 353-361.
Goodpaster, K. (1983). Ethical frameworks for management. HBS.
Horowitz, D. (2011, May). We need a \\\\\\"moral operating system\\\\\\" Retrieved from https://www.ted.com/talks/damon_horowitz (Links to an external site.)
Top Class Actions. (2019). The settlement is closed. Retrieved from https://topclassactions.com/lawsuit-settlements/closed-settlements/917069-wells-fargo-auto-loan-insurance-class-action-settlement/
Study Document
Enterprise Risk Management In Wells Fargo During The Pandemic
Enterprise Risk Management in wells fargo during the Pandemic
Introduction
As Beasley (2020) points out, enterprise risk management (ERM) is especially needed during the COVID 19 pandemic because of … due to mandated quarantine orders. Small business owners and large corporations have filed for bankruptcy. All of this impacts the banking sector and wells fargo specifically because of its role in managing loan products, using interest rates to attract savers, and offering investment advice. “No single risk associated … Enterprise Risk Management (ERM) vs. traditional risk management; 2) a discussion of hazard, financial, operational and strategic risks; 3) a SWOT analysis of wells fargo; 4) an examination of the relationship between organizational culture and ERM; 5) a discussion of risk in terms of current and potential profit … strengths and weaknesses and how best to utilize resources without inviting a scenario of disaster upon itself. For instance, in the case……
References
References
Beasley, M. (2020). How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks. ERM Professional Insights.
Derysh, I. (2020). Watchdog questions why Wells Fargo reported giving only one large PPP loan to a Black-owned business. Retrieved from https://www.salon.com/2020/07/22/watchdog-questions-why-wells-fargo-reported-giving-only-one-large-ppp-loan-to-a-black-owned-business/
English, C. (2020). Wells Fargo Forced to Cut Its Dividend After Fed Stress Test. Here’s What Other Banks Did. Retrieved from https://www.barrons.com/articles/wells-fargo-forced-to-cut-its-dividend-after-fed-stress-test-51593467664
Hall, J. (2007). Internal Auditing and ERM: Fitting in and Adding Value. Retrieved from https://global.theiia.org/about/about-the-iia/Public Documents/Sawyer_Award_2007.pdf
Kaplan, R. & Mikes, A. (2012). Managing risks: A new framework. Harvard Business Review, 3.
Lewis, M. (2010). The Big Short. NY: W. W. Norton.
Lundqvist, S. (2014). Abandoning Silos for Integration: Implementing Enterprise Risk Management and Risk Governance. Lund University.
Morgenson, G. (2020). More Wells Fargo customers say the bank decided to pause their mortgage payments without asking. Retrieved from https://www.nbcnews.com/business/personal-finance/more-wells-fargo-customers-say-bank-decided-pause-their-mortgage-n1234610
Study Document
Impact Of Agency Theory
… factors which sometimes misguide the principle about the agent creating conflicts on critical decision making of the firm.
Just like most other firms, wells fargo’s decision making is impacted due to Agency theory in many ways as the firm has certain factors and ways of performance, it gives … profitability, return on investment, operating expense, shareholder value and other financial performance through influencing the key decision making that goes around these factors. wells fargo have a decentralized set up, which gives the autonomy to the employees to take decisions on their own (Pennsylvania, 2017). Setting up of … director’s hiding of the problems in the past, gives the employees more strength and confidence to pursue wrongdoings in their self-interest (Pennsylvania, 2017). wells fargo have gone through this problem in the past where the agents have acted in their self-interest and caused the bank to suffer hugely … theory can……
References
References
Demsetz, R. S. (1997). Agency Problems and Risk Taking at Banks.
Heath, J. (n.d.). Uses and Abuses of Agency Theory. Business Ethics Quarterly.
Kuypers, A. (2011). How is dealt with the agency problem and what is the role of the board of directors in it?
Lumen. (n.d.). Agency and Conflicts of Interests. Lumen. Retrieved from https://courses.lumenlearning.com/boundless-finance/chapter/agency-and-conflicts-of-interest/
Murray, I. (2016, September ). Wells Fargo and the Principle Agent Problem. Competitive Enterprise Institute.
Palia, D. (2007). “Agency Theory in Banking: An Empirical Analysis of Moral Hazard and the Agency Costs of Equity. Banks and Banks System.
Pennsylvania, W. U. (2017, August 08). Wells Fargo: What It Will Take to Clean Up the Mess. Wharton University of Pensylvannia.
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