Business Ethics Paper

4424 Words18 Pages
hics [Year] An Ethical Analysis of the Commercial Banking Industry and 1st Source Bank Jennifer Bandeen, Mollie Valencia, Nicole Wojciakowski BUAD 346 [Year] An Ethical Analysis of the Commercial Banking Industry and 1st Source Bank Jennifer Bandeen, Mollie Valencia, Nicole Wojciakowski BUAD 346 Introduction In doing our analysis of the ethical culture of the commercial banking industry and a company within this industry, 1st Source Bank, we interviewed Andrea Short, Chief Financial Officer, and Joe Kuzmitz, Senior Vice President of the Business Banking group. From these interviews and research of our own we gained much insight into the ethical concerns involved in the commercial banking industry. Commercial Banking Industry Industry Description In its most basic form, commercial banks take deposits from individuals and institutions and use those deposits to extend credit to other individuals or institutions. The profit in this industry is made by earning more interest from borrowers than what they pay in interest to the people whose deposits they are accepting. The money that the customers of the commercial banking industry deposit into their neighborhood bank branch or credit union will usually support economic activity through business loans, mortgages, auto loans, and home repair loans. Services provided by participants in the commercial banking industry also include safe deposits, notary, and merchant banking. Industry Participants There are a vast number of participants in the commercial banking industry. The one that will be discussed in this paper is 1st Source Bank. This bank is a more regional bank operating in only Indiana and Michigan. Other participants in the industry include Bank of America, Fifth Third Bank, JPMorgan Chase, KeyCorp, Old National Bancorp, Wells Fargo, and a number of others. According to Hoover’s, 1st Source
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