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Approving loans regardless of background

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Suppose you were a loan officer for a bank. The leaders in the organization have encouraged all loan officers to approve loans regardless of income or credit background. If you predict that people will not be able to make the payments and are likely to eventually lose the property, would approving this loan violate your personal code of ethics? Why or why not? How would you resolve this ethical dilemma? If borrowers, shareholders, and the community had knowledge of your bank's strategy, how would they react?

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Solution Summary

The solution provides information, assistance and advise in tackling the task (see above) on the topic of the approval of loans regardless of the background of applicants. It is a situational problem in relation to ethics and values, particularly ethical banking. A simple outline is suggested together with key information to get the student started. Resources are also included for further exploration of the topic.

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Dear Student,
Hi and thank you for using Brainmass. In this particular task, you are being asked to determine the right course of action from an ethical and business viewpoint. There are 2 ways you can view this - from a personal and a professional perspective. I suggest using this simple outline to discuss this problem:

1. The problem - 100 words
2. Your position - 100 words
3. Civic ethics - 100 words

This outline should yield 300 words which should cover what you need. Just let me know via the feedback section if you need further help. All the best with your studies and thank you for using Brainmass.

AE 105878/Xenia Jones

Ethical Banking

I am a loan officer in a bank. My bank is aggressive and savvy to advance in the market so much so that it is important for us to keep on giving out loans and approving loans even without proof of ability to repay. ...

Solution provided by:
  • MPhil/PhD (IP), Open University, Milton Keynes, UK
  • MA, Open University, Milton Keynes, UK
  • Certificate, Geva Ulpan (via Universita Tel Aviv)
  • BA, University of the Philippines
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