Ethical Decisions Given That the Term Paper

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As such, were the credit manager to approve of the loan in the given and uncertain circumstances, the bank might:

Be reworded for the trust they had bestowed in the client, who would pay up his debts; in this case the bank will earn a loyal customer

Be faced with financial losses as the client is unable to pay up his debts and return the borrowed money.

If on the other hand, the credit manager denies the loan request, the bank could:

Lose a potential customer and lose the financial resources derived from his payment of interest rate

Protect itself from the risk of not recovering its loan.

The situation encountered at Providian is a good example that unsafe actions which imply an increased amount of risk can be highly profitable, but can also turn into real disasters.

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The financial institution has set the trend for loaning money to rather dubious clients and by doing this has managed to become one of the largest financial institutions. However, their success was only valid on the short-term as the future would only bring one collapse after another. Providian must not be taken as granted fact that whoever loans money to a person with a bad credit history is doomed.

In a nutshell, when deciding whether or not to grand a loan to a person with a bad credit history, the moral standards tell the decider to take all aspects into consideration, in an unbiased and objective way and regardless of the financial outcome. However, like us all, the credit manager is a flawed person and it is rather difficult to make an objective decision......

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