Wells Fargo Fraud

As all this came to fruition, the bank was penalized with $185 million dollars in fines and other penalties by county and federal organizations (Blake, 2016). On top of getting slapped with millions of dollars worth of fines, Wells Fargo fired 5,300 employees that may have been involved in the scandal (Blake, 2016). Some of Wells Fargo’s top executives where asked to step down in court proceedings as well as in other meetings with federal agencies. There have also been several lawsuits filed against Wells Fargo by customers and former employees of the company that feel that they were wronged and bombarded with threats. Thankfully, this scandal did not affect most of Wells Fargo’s clients. However, there were some unfortunate people that had

Right now in the United States of America, there is a monopoly that exists that involves epinephrine auto-injectors. EpiPen is the United States only supplier of these auto-injectors because other brands have suffered setbacks and failures, patent protection laws, and because there are currently no generic versions of EpiPen in the United States (Johnson). This monopoly was not a problem until Mylan bought Meda AB in 2007 (Paton). “Since Mylan bought the rights to EpiPen in 2007, it has raised the price on 15 separate occasions, bringing the current list price to $608 for a two-pack up from about $50 a pen in 2007” (Mole). This has been a price increase of more than 500%, and this shows that Mylan has been using the monopoly to its advantage.

With the recent price increase for the life saving EpiPen many families are being forced to either pay the absurd amount for the drug or to risk their safety and go without one. This imperative device is a prefilled syringe that inject a small dosage of epinephrine into the thigh muscle which suppresses the immune system to open up the airways closed off by fatal allergic reactions such as bee stings or nuts. For 43 Billion people across Americans the EpiPen is a necessity to daily life. One that which many people now are deciding to go without.

Anthony hospital is considered as a DSH and is eligible to participate in 340B program.

Birth control has been a talked about topic for years. Many people have different views and thoughts of the sale of over the counter birth control pills. The sale of over the counter birth control pills has sparked controversies of whether or not the sale is safe for consumers. Several physicians, medical colleges, and consumers have different thought on the sale of birth control without a physician’s prescription. Which I will be arguing my views and opinions against selling birth control pills over the counter without a physician’s prescription.

Legal rules currently do not sufficiently discourage predatory pricing of prescription drugs, in this case EpiPens. The price of EpiPens rising in the pharmaceutical industry is legal and immoral. However, Mylan Pharmaceuticals may have violated the antitrust law in its EpiPen sales to schools. In 1890 the United States passed down the antitrust law also known as the Sherman Act. The Sherman Act regulates the conduct and organization of business corporations in order to promote fair competition and outlaw monopolistic business practices. The Federal Trade Commissions Act was passed down in 1914, and it bans unfair methods of competition and unfair or deceptive acts or practices.. In August of 2012, Mylan Pharmaceuticals started the “EpiPen4Schools’

In September of 2016 news broke out about the Wells Fargo scandal. Wells Fargo employees secretly opened millions of illegal fake credit cards and bank accounts for unknowing customers. According to How The Wells Fargo Phony Account Scandal Sunk John Stump, “Wells employees created more than 1.5 million unauthorized deposit accounts and issued more than 500,000 unauthorized credit card applications. These accounts racked up $2.6 million in fees for the bank.” These employees started making these fake accounts due to the companies aggressive sales goals. Wells Fargo wanted their employees to open eight accounts for each customer, which put a lot of pressure on the employees.

Describe the top challenges faced by this industry and how is the organization you are working for addressing those challenges:

According to Harvard Health, millions of Americans are not taking their “medications due to their high cost” (LeWine). Cost should not be the reason that people go without their medicine, something they need. Lack of medicine can lead to hospital trips and death. It is in this way that prescription drugs are similar to water. Those who take medicine are dependant on it, and absence of the drug can be disastrous, as lack of water is terrible for the body. Prices of prescription drugs are very high, and continuing to climb. As a result, many people cannot afford to take the medicine they depend on. Prescription drug prices should be lowered; drug companies are unfairly hiking up the prices, many people cannot afford their medicine, and high prices have a negative impact on patient health.

early stages of the scandal, the San Francisco based financial institution was investigated by the local Los Angeles City’s Attorney and California state officials. Preliminary investigations revealed the extent of the fraud and malpractice predated as far back as 2011. As a result, on September 8, 2016, federal investigators followed suit and the Consumer Financial Protection Bureau Agency opened an investigation against Wells Fargo and handed a $185 million penalty to settle the dispute. This settlement would become the largest fine levied in the agency’s history. Of the $185 million, $100 million comprised of fines from the Consumer Financial Protection Bureau (CFPB), $50 million originated from the Los Angeles City Attorney’s Office, and

It is essential for individuals and those representing an organization to understand what is an ethical dilemma. Wells Fargo financial corporation was involved in a dramatic ethical issue due to millions of unauthorized bank account openings. As explained in The PLUS Ethical Decision-Making Model, “many organizations battle to develop a simple set of guidelines that make it easier for individual employees, regardless of position or level, to be confident that his/her decisions meet all of the competing standards for effective and ethical decision-making” (n.d). The Wells Fargo scandal is evident prove that employees lacked ethical judgment and management supervision. The seven ethical decision-making steps foster straightforward thinking that

The foundation of Wells Fargo’s strategy is its focus on customers. The company’s strategy tends to drive the choices they make and also enable them to prioritize its efforts, differential from peers, and build a lasting value for customers, employees, communities, and shareholders. The diversified business model tends to provide the company with the stability and the strength as it assures communities and customers that it exists to serve them and also the future generations. The objectives of the company are to be the leader in financial services in areas of team member engagement, customer services and advice, shareholder value, innovation, corporate citizenship, and risk management (Wells Fargo n.d). Through the use of innovative technology, Wells Fargo aims at creating new kinds of lasting value for businesses and customers and also increase efficiency for the internal

Wells Fargo is one of the largest banks in the United States, with “…more than 8,600 locations [and] 13,000 ATMs” (Wells Fargo Today). Millions of Americans trust them with their finances. However, after a federal investigation, Wells Fargo has admitted to opening up to two million accounts without customers’ permission. While this had financial implications for many customers, this scandal most heavily affected Wells Fargo’s low-level employees.

Throughout the case, it can be seen how Cendant Corporation was performing activities that dealt with the interactions of income smoothing. The main cause of performing with Income Smoothing was to make their shareholders and investors believe that they had a professional and ethical operation running. Income smoothing can best be represented as how either gains or losses from a certain period are taken into a good or bad period with losses or no profits. Income smoothing throughout this case was used as an unethical practice performed by Cendant Corporation to achieve financial stability and falsify numbers to make the investors believe they had premium stocks when in reality it wasn’t what was really occurring which would then lead to the

A community pharmacy is vital part within the healthcare system when it comes to health promotion. Pharmacists are an excellent resource when it comes to educating patients with medication knowledge, and directing patients towards the proper procedure of taking their prescribed medication. On Saturday, January 20th, 2018, military time 1909, I visited the pharmacy section of a Shoppers Drug Mart located on Kingsway and Nanaimo in Vancouver. This paper explores how a community pharmacy can educate individuals on the medications they are taking, and the similarities and differences between a pharmacist and a nurse.