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Financial institution executives have already responded by indicating that they do not and will not tolerate any behaviour of their employees where they promote merchandise customers do not need. Take it from a business professor at a enterprise school the place a substantial chunk of center and senior bank staff graduate from, this is bullshit! Just like the Wells Fargo fiasco final 12 months where the CEO tried to make this out to be an isolated incident, I think that massive financial institution executives will try to relegate this to some kind of extraordinary however contained drawback that isn’t in any approach representative of the whole financial institution. Once more, that is simply not true as a result of it overlooks a highly institutionalized organizational culture – supported by incentive programs, bonus buildings, reward programs, and so on. that predict behaviour.

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