Wells Fargo is once again making national headlines for its less-than-ethical business practices. Recent headlines bowled me over: Wells Fargo being forced to reinstate employees – whistleblowers – who reported the ethics issues to their superiors, and pay their back pay! Their Board of Directors report decision laying the responsibility of the 2 million plus unauthorized bank and… [Read More]
Virtual Shareholder Meetings: Are They an Erosion of Transparency?
Technology has infiltrated every area of our lives in many positive ways making it easier to communicate and inform a wide range of people in many different ways. Some uses, however, may not have as positive an impact. One communication mode which is rapidly gaining followers is the use of “virtual” annual shareholder meetings which… [Read More]
Will the Real Preet Bharara Please Stand Up
Preet Bharara was one of 46 United States Attorneys appointed by President Barack Obama who was asked by the new administration to immediately resign. However, the request came as huge surprise to Mr. Bharara as it came just three months after he met with then president-elect Donald J. Trump, who had asked him to stay… [Read More]
Does Whistleblowing Pay? New Study Says Yes!
There’s a high cost to being a whistleblower. As my Bank Whistleblowers United colleagues and I can attest to, being a whistleblower means losing your job and most future possibilities of getting another position in your profession are slim to none; not to mention the human cost of the stress and emotion involved and the personal… [Read More]
The Whistleblower: David vs Goliath — You Don’t Have to Be A Giant to Make a Difference
The story of David and Goliath is one most of us are familiar with. Goliath, the Bible character, as told in the Books of Samuel, is described as a giant Philistine warrior who was defeated by the young and small David, a shepherd and future king of the Israelites. No one would stand up to… [Read More]
Can Ethical Principles Become the New Norm?
Pick up a newspaper, read the headlines, turn on your TV set and the prevalent news relates to lying, cheating and stealing. Whether it regards our politicians, business professionals, or local leaders much of our daily input is negative. The trust we put in our elected officials, the media, bankers and business executives is at… [Read More]
ENRON Stands Unprecedented as the Poster Child of Blatant Corporate Fraud
In 2001, Enron, then the seventh largest company in the world and the most innovative company in America, whose stock prices doubled every three years, imploded. The American energy company based in Houston, Texas went from $100 billion in revenues and $1 billion in profit to bankrupt, leaving thousands out of work and with no… [Read More]
Banking In the 21st Century: The Great American Ponzi Scheme at Wells Fargo (and all TBTF)
“You should resign, you should give back the money, and you should be criminally investigated.” a fiery Senator Elizabeth Warren told Wells Fargo’s chief executive, John G. Stumpf, during Senate hearings last month. (Watch in Times Video) In September, Wells Fargo reached a $185 million settlement with federal regulators and acknowledged that thousands of employees, under… [Read More]
The Truth Is Getting Out… 43 Million Households Will Know the Truth!
Last week I had the opportunity to be interviewed for Full Measure News, by Sharyl Attkisson, a five-time Emmy Award winner and recipient of the Edward R. Murrow award for investigative reporting. Sharyl is the host and anchor of Full Measure News which is broadcast to 43 million households in 79 markets on 162 Sinclair Broadcast… [Read More]
Speaking Out Has a Price… Are You Willing to Pay the Cost?
This week I had the opportunity to speak to the University of Nebraska at Omaha for their fifth annual Accounting Speaker Series. Close to two hundred accounting alumni as well as business school students taking ethics courses attended. Many of these young men and women would be auditing company books. Many would see red flags… [Read More]
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