An open discussion about ethics in financial services and banking.
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Banks should have an ethical responsibility and are not protected by limited liability from the consequences of their actions. A company’s record and the preception of its ethics affect its reputation and ensure long term success or failure.
The financial community has a history of placing moral considerations above legal or opportunistic expedients. But are the dangers of contamination, increasing in the pursuit of profit?
Historically the bankers’ role is one of stewardship based on trust. Bankers were trusted by the general population to look after their money and bankers do have a duty to lend that money responsibly. Don’t they?
Banking is about rewards reflecting real risks and ethical considerations form an important part of our risk-taking activities. The welfare of our borrowing customers, in good times and bad, is of major concern in any business proposition. Sometimes commercial considerations can be at odds where ethics and politics combine and which is more important?
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