Ethics and Banking Institutions

The banking industry has a significant impact on today's economy and society. Banking systems consist of many types such as commercial lending and investments, which operate on a local, national, and international level. These institutions have become a cornerstone within the United States local and global economy. Banking organizations, which include credit unions, are fundamental for economic growth and have become “too big to fail.” Although many of the major banks did not collapse during the recent recession, speculation arose questioning many of the major banks corporate, social, responsibilities as well as social initiatives. Issues arose questioning whether or not banking regulatory failures contributed to an economic recession and if such failures were preventable. Individual, organizational, profiles were created, compared, and contrasted on Wells Fargo, Bank of America, Nevada State Bank, JP Morgan, Chase, and Plus Credit Union. Each profiles objective was to evaluate each organization’s community involvement, responsibility to the community, factors that have affected organization strategies, social initiatives, and ethical, moral, effects. After evaluating each profile studies were conducted to identify the similarities and differences between each organization and how they affect their respective community.

Results from the individual organizational profiles found that most organizations have cultivated some variation of corporate self-management. Each corporation has adapted their own version of a self-management concept; however, each company’s strategy encompassed different goals. Internal corporate self-management programs were not only integrated into each banks business model but also into each banks corporate actions. Leadership promoting positive social responsibility within the organization was found to encourage personnel within each level of the organization. Positive reinforcement not only directly affected profit but also...