Page 3 - The Banks Summary (H)

Summary

Since the financial crisis of 2008 scandals have abounded

in the banking and finance industry. These raise the

question of who were these scandals perpetrated by,

rogue executives, greedy individuals or was it a more

sinister and deep-rooted, systemic process within the

industry? (1)

Given that:

“The strength of families, businesses, and
society at large is dependent on the ability to

count on others to “do the right thing.”

Academic research studies have shown that

good ethics (specifically, an environment of

trust) lead to lower costs and higher revenues

and profits. Customers want to do business

with companies that have a good reputation,

and employees want to work for a company

that treats its employees and suppliers fairly

and honestly. While reputation deals with the

past, trust is an indicator of the future.” (9)

All too often people claim that they don’t trust the banks.
By this they more often than not tend mean its

management, not at branch level, but at headquarters.