The article that follows -posted to the ESADE Today blog- reflects on the theory and practice of values and the consequences of malpractice. An illustrative example of these practices can be found in Wells Fargo, embroiled in a scandal over assertions that bank employees opened accounts without customers’ authorization.
Simon Dolan and Avi Liran* offer in this review their personal reflections and ideas about The Wells Fargo scam fiasco: On September 8, Richard Cordray, director of the US Consumer Financial Protection Bureau (CFPB), announced that Wells Fargo would pay US$185 million in fines for illegally creating unauthorised de-posit and credit card accounts across the United States. But The Wells Fargo scam fiasco has produced no senior-level resignations at the bank to date nor any return of personal windfalls from the fraud.
What were your conclusions?
Click here to read the full article.
*Avi Liran is a consultant to companies on cultural transformation and a certified coach. Dr Simon Dolan is the Future of Work chair at ESADE Business School in Barcelona, Spain, and creator of the “Managing and Coaching by Values” concept, methodology and tools