Lori Widgot vs Wells Fargo
December 2, 2012
Abstract
The purpose of this paper is to discuss the legal, ethical and social responsibility aspects of the Lori Wigod vs. Wells Fargo case. State and federal law will be discussed in the legal section and analyzed in accordance with the case. In the ethics section three very popular ethical theories will be reviewed that will encourage open-mindedness from the reader. Finally, the social responsibility section will take into account both the law and ethics among other characteristics to see if Wells Fargo was benefiting or hurting society.
Table of Contents
Abstract……………………………………………………………………………………………3
Introduction…………………………………………………………………………………….5-8 Legal…………………………………………………………………………………………...8-12 Ethics…………………………………………………………………………………………12-26 Social Responsibility…………………………………………………………………………26-30 Conclusion……………………………………………………………………………………30-31
References……………………………………………………………………………………32-33
Introduction
Law, business ethics and social responsibility combine to act as a compliance system requiring businesses and employees to act responsibly in society. (Griseri & Seppala, 2010). These fundamental factors have been widely displayed in the legal case of Lori Wigod (hereby referred to as Wigod) vs. Wells Fargo where the plaintiff, Wigod, alleges the defendant, Wells Fargo, of breaching a contract to permanently modify her home loan through the use of a grant. The purpose of this paper is to further analyze the Wells Fargo case and determine whether they followed the law, behaved ethically and was socially responsible while applying these three values of business.
First, it is necessary to understand how law, ethics and social responsibility play a role in our society and how they impact business functions. They work in conjunction with one another and are vital in decision-making and the designing of an organization. Law, ethics and social responsibility are used to problem solve, maximize economic
Abstract
The purpose of this paper is to discuss the legal, ethical and social responsibility aspects of the Lori Wigod vs. Wells Fargo case. State and federal law will be discussed in the legal section and analyzed in accordance with the case. In the ethics section three very popular ethical theories will be reviewed that will encourage open-mindedness from the reader. Finally, the social responsibility section will take into account both the law and ethics among other characteristics to see if Wells Fargo was benefiting or hurting society.
Table of Contents
Abstract……………………………………………………………………………………………3
Introduction…………………………………………………………………………………….5-8 Legal…………………………………………………………………………………………...8-12 Ethics…………………………………………………………………………………………12-26 Social Responsibility…………………………………………………………………………26-30 Conclusion……………………………………………………………………………………30-31
References……………………………………………………………………………………32-33
Introduction
Law, business ethics and social responsibility combine to act as a compliance system requiring businesses and employees to act responsibly in society. (Griseri & Seppala, 2010). These fundamental factors have been widely displayed in the legal case of Lori Wigod (hereby referred to as Wigod) vs. Wells Fargo where the plaintiff, Wigod, alleges the defendant, Wells Fargo, of breaching a contract to permanently modify her home loan through the use of a grant. The purpose of this paper is to further analyze the Wells Fargo case and determine whether they followed the law, behaved ethically and was socially responsible while applying these three values of business.
First, it is necessary to understand how law, ethics and social responsibility play a role in our society and how they impact business functions. They work in conjunction with one another and are vital in decision-making and the designing of an organization. Law, ethics and social responsibility are used to problem solve, maximize economic
References: Cavico, Frank J. and Mujtaba, B. (2012a). Business ethics: the moral foundation of effective leadership, management, and entrepreneurship (Second Edition). Boston, MA: Pearson Custom Publishing Cavico, Frank J Cavico, Frank J. and Mujtaba, B. (2009a). Business ethics: the moral foundation of effective leadership, management, and entrepreneurship (Second Edition). Boston, MA: Pearson Custom Publishing Cavico, F., and Mujtaba, B Cavico, F., and Mujtaba, B. (2008a). Legal challenges for the global manager and entrepreneur. Dobuque: IW: Kendall/Hunt Publishing. Cavico,F., & Bahaudin, M. (2005). Business Ethics: Transcending Requirements through Moral Leadership Department of Treasury, Housing and Urban Development (2009). Overview of Home Affordable Mortgage Program. Making Homes Affordable Program. Retrieved online from: http://www.makinghomeaffordable.gov/programs/lower-payments/Pages/hamp.aspx Ethic Gross, A. (2012, March 09). Appeals court allows fraud lawsuit against wells fargo. [On line Blog]. Wbez. Retrieved on line from: http://www.wbez.org/story/appeals-court-allows fraud-lawsuit-against-wells-fargo-97136 Hamabe, Y Lori Wigod v. Wells Fargo, N.A., No. 11-1423, 7th Cir. March 2, 2012. Merriam-Webster. 2012. Merriam-Webster Dictionary. Moura-Leite, R., Padgett, R Philosophy. 2012. In Merriam-Webster.com. Retrieved Nov 15, 2012, from http://www.merriam-webster.com/dictionary/philosophy Rand, A., & Branden, N. (1964). The virtue of selfishness, a new concept of egoism. (Centennial ed.) Riley, J.,(2012, October 24). Business Strategy: Introduction to Business Ethics. Retrieved from http://www.tutor2u.net/business/strategy/buiness-ethics-introduction.html Schroeder, P. (2012, Oct 1). Obama 's mortgage task force sues jpmorgan. The Hill. Retrieved from http://thehill.com/on-the-money/banking-financial-institutions/259623-head-of-obamas-mortgage-task-files-suit-against-jpmorgan Vogel, D