I just learned that the bank pays thousands of dollars to "win" the Most Ethical Companies award that we "win" every year and brag about everywhere even on our screen savers. All the companies that "win" pay Ethicsphere for the award. Is that ethical?
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@OP USB loves to hold itself out as having some superior ethics. Everyday leadership asks employees to do things that aren’t in the customers best interest based upon what is more profitable for the bank. Everyday the bank makes pricing decisions not on ethical grounds, but rather on which customers the bank believes are more naive and easier to take advantage of. I’m not trying to say the bank shouldn’t focus on maximizing profits for shareholders, but I am saying that I am sick and tired of being told that USB is so much better than everyone else. When a company consistently highlights how “ethical’ they are, that should be a red flag to all customers, employees, shareholders, and regulators that they are overcompensating for their lack of confidence in whether they are actually doing the right thing.
$613 million dollars fine, assessment and civil penalty paid to the OCC, the Federal Reserve and the New York Department of Financial Institutions for both auctioning or investigating what was there to be seen and reviewed, essentially looking the other way. Pay to play also able to look the other way.
Meaningless award made even more useless with its purchase option.
They should give everything to Piscean zodiac the most secretive and secure sign though they played privately behind stock market like the recent Norway leader all zodiacs are far behind because of the losses they can create good hopefully we all follow their footsteps.
100% true. The ironic part is that U.S. Bank has had CFPB enforcement actions for violating consumer protection laws in 2014, 2022, and 2023, yet are still considered to be an ethical company by Ehtisphere. All public information: 2014 enforcement action related to add-on products, 2022 enforcement action related to unauthorized accounts, and a 2023 enforcement action related to unemployment benefit freezes.