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Need to analyze the issue thats going on with Wells Fargo
Wells Fargo scandal in 2016. “The bank opened millions of unauthorized accounts in order to meet sales targets and receive bonuses; violations of banking regulations, consumer protection laws and ethical standards occurred”
In order to effectively analyze the issue, it is important to analyze and understand a few key aspects of the scandal:
1) The root cause of why Wells Fargo opened these unauthorized accounts and what motivated them to do so.
2) How did Wells Fargo get away with opening millions of these accounts without customers’ knowledge or authorization?
3) What regulations, consumer protection laws and ethical standards were violated as a result?
4) How have impacted customers been affected by this scandal, both financially and emotionally?
5) What measures has Wells Fargo taken in response to address the issues raised by this scandal?
By understanding each of these components, an effective analysis can be conducted on the underlying issues surrounding the Wells Fargo scandal. This will help develop strategies for preventing similar scandals from occurring in the future.