Mortgage Loan and Empathy Ethical Dilemma Essay

Submitted By Danshi-Su
Words: 317
Pages: 2

Danshi Su
Strength: Diplomatic, Accommodating, and Enthusiastic
Vulnerability: People pleaser, Indecisive, Lack of Empathy
Ethical Dilemma: If I worked at a bank, would I have supported the unfair acts that UDAAP tried to ban.
Discussion and Resolution: She discussed that the department of Consumer Financial Protection Bureau (CFPB) was created by Elizabeth Warren in 2011 to combat unethical practices in the consumer financial sector. Its jurisdiction oversees financial institutions such as banks, mortgage lenders, payday lenders, and etc. Personally, I believed that if I worked in the pre-CFPB era, I would have done whatever necessary to secure unfavorable loans and practice unethical consumer financial activities simply because it’s my job and no decision is made at a lower level. Being a low level employee means even if you protest or quietly fight against the practice, another employee will take my place and do the job without scrutiny. Following orders to pay rent and loans is always a powerful incentive. Privately, I would have extreme doubts about my unethical actions and in the long-term I would probably switch jobs. But to an extent, the consumer are not all that free from guilt. Many people who applies to disadvantaged loans or financial products failed to perform due care or research before committing. Likewise people often hear that there has been individuals who did not read through the mortgage contract before signing. While I understand many consumers are…