Please help, I will rate. Locate and research a news article "Wells Fargo" covering a business activity with ethical implications. Sources can include major newspapers, business or trade magazines, or information from the internet (in its original form). It should contain the date and source of the article, a summary of the relevant facts contained in the article (you should also point out any facts that you do not know and any assumptions that you are making, the article must describe business decisions, practices, strategies, policies, or institutions, and address the ethical dimension of those decisions, practices, strategies, policies, or institutions (i.e. whether they are morally right or wrong or whether they produce morally good results) rather than the implication they might have for some other aspect such as economic or political, an analysis of the ethical dimensions of the issue (kant theory), an explanation as to why you believe the solution to the ethical problem taken by the company in your article was the correct one, or a suggested solution if you believe the approach taken was incorrect.

Answer

Date of the article: 10^th April 2017

Source of the article: abc News. Retrieved from http://abcnews.go.com/Business/wells-fargo-publishes-sales-scandal-findings-seizing-75/story?id=46703038

Summary of relevant facts: The company has been involved in an unethical sales practice scandal. The management of the company had encouraged its employees to follow an aggressive sales policy and this led many employees to open accounts without the permission of the customers. During the period 2011 to 2015 the employees of the company had opened more than 2 million accounts with the banks deposit and card division without seeking proper authorization of the customers.

The dimension of the aggressive sales policy that was being followed by Wells Fargo was clearly an unethical dimension as the policy flouted the banking sales norms. Moreover the accounts were opened without the consent of the customers and this was clearly an unethical practice. The above sales policy of the company was morally wrong and produced results that were not morally good.

Suggested solution: The top management and Board of Directors at Wells Fargo should have ensured that proper internal control measures should have been put in place at the bank. With proper internal control measures it would have been impossible for the employees to open any new account without following the established guidelines and set of procedures. Internal control helps in risk mitigation by detecting and preventing fraud. The top management and the Board of Directors should have discouraged the aggressive sales policy and instead should have focused on developing a control environment, a proper risk assessment tool and should have had proper monitoring.

Question remaining Please with this I need the analysis of the ethical dimensions of the issue (Kant theory) and an explanation as to why you believe the solution to the ethical problem taken by the company in your article was the correct one, or a suggested solution if you believe the approach taken was incorrect.