Unethical Business Practices: Wells Fargo Company (Other (Not Listed) Sample)

Unethical Business Practices
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Unethical Business Practices
I am yet to witness unethical practices at my workplace. However, I won't share a current example of unethical business practice. The unethical business practice was done at Wells Fargo Company. The organization was recently embarrassed since it was revealed that its employees created fake profiles to orchestrate fraudulent applications to benefit from relief programs availed to Small Business Administration monetarily (Wang & Guarino 2021). During the covid19 pandemic, the relief program was designed to help cushion small enterprises and businesses that were forced to shut down their operations or cut off their operations to reduce costs. I also remember that the company was, yet again in 2018, engulfed in such a scandal that was completely unethical. The company employees were in the spotlight for creating fake accounts in 2018. Upon the measures taken by the federal reserve board to remove the cap that initially barred banks from giving loans to small businesses, the employees were yet again in the mix to benefit from such a stimulus program. This is despite the company’s CEO Charles Scarf's testimony that the organization's employees can be trusted only to do what is moral and right (Lilly et al. 2021).
This is unethical because the programs were meant to benefit small businesses struggling to come out of the impacts of the pandemic. The companies that had closed their operations were to use the money to reopen their doors for business operations. Therefore, the employees intended to benefit from the package, which would lock out the targeted companies or reduce the amount each would receive. Hence, it was