Of course scandals are costly, as a perusal of the news in 2019 shows. And they create long-term, non-monetary costs as well — loss of respect, reputation, trust, and more.
When things go very wrong as a result of behaviors, procedures, or attitudes, there is a great loss — but also the potential to prompt change.
This year, our country experienced five groundbreaking scandals in the financial services industry. Some made national headlines, others may be lesser-known, but they all offer the opportunity to reflect on what went wrong — and what can improve.
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