Case Code : CLBE021
Publication date : 2009
Subject : Business Ethics
Industry : Banking
Length : 02 Pages
Short Case Study Price: INR 100;
In 2007, First Commonwealth Bank deposited a good sum of money in the bank account of an Altoona couple by mistake. After realizing its mistake, it sued the retired couple to get the money back. The couple claimed that they had intimated the bank about the mistake several times and had started spending the money only after some employees of the bank reassured them that the money was theirs.
Questions for Discussion:
1. Was it ethical of FCB to sue the Starbirds when what happened was clearly due to its own mistake?
2. According to you, what would have been the ethical approach for the bank to take once it realized that it had deposited the amount in the Starbirds' account by mistake?.
Ethics, legal, First Commonwealth Bank, Starbirds
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