Case Study 7

In: Business and Management

Submitted By golf1967
Words 760
Pages 4
1. Yes there are moral concerns with subprime leading; they are loans lenders provide to those who have been disqualified from borrowing with prime loan companies (Thibodeaux, n.d.). There is a need for them but care must be taken not to take advantage of those individuals that get them. The moral concerns are the fact that predatory lenders seem to target those groups that are vulnerable and in need of housing and money to make ends meet. Let me make this perfectly clear that there is a place for subprime loans, they give the person that had some issues earlier on in their life to be able to acquire money for bills and buy a home for their family however, using immoral acts as forcing insurance that they may not want and charging very high interest rates are not call for. The moral concerns are based on utilitarian, which chooses the action that yields the greatest good (Baron, 2010). Moral good should be judged on consequences (is harm done by forcing single premium insurance and very high interest) the consequences are evaluated by human well-being (is customer better off before or after the loan) evaluation of individual preference (did the consumer have a choice) the action was aggregate and yielded good (was the customer gaining more from the loan or in the end losing more) the morally justified maximizes aggregate well-being (giving the customer a choice to take insurance and charging a reasonable interest rate). 2. CitiFinancial should stop the practice that the Associates were doing in charging the lender single premium life insurance and not fully making sure the customer knows the policy. The company has an ethical obligation to evaluate the alternatives and formulate the policy to ensure that the customers interest is not affected (Baron, 2010). This is a prime example of taking advantage of people when they at their most lowest and not giving them…...

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