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One of the main problems that have been highlighted in recent news has been the problem of abuse of power. This question is quite common since, having received strength, and people can exceed their capabilities and harm people around them in their own interests (Hodes & Mennicke, 2019). One such news was the abuse of the director of the Consumer Financial Protection Bureau, Rohit Chopra. The Alliance of Banking Trade Groups sued Chopra for abusing his power for negative purposes.
The Alliance of Banking Trade Groups accused Director Rohit Chopra of forcing banks to undergo regular inspections that were supposed to reveal improper treatment of customers. The main motive of the reviews was frequent discrimination of customers and other negative attitudes towards them on the part of banks. Chopra exceeded his authority because, bypassing the law, he constantly forced banks to undergo an inspection procedure (Flitter, 2022). In addition, Chopra made changes that were not publicly proposed and announced, and which regulated these checks.
The new changes adopted by Chopra led to banks being forced to increase the costs of correctly documenting compliance with these laws. The payment of new documents and the salary of lawyers who processed everything in accordance with the recent changes brought banks not only financial but also other inconveniences. Chopra forbade banks to officially inform about new changes, arguing that it was unfair and further discriminatory actions (Flitter, 2022). Prior to the start of this activity, banks did not discriminate against customers, and no illegal acts were taken.
This article correlates with the concepts of the course in different directions. One such direction is that exceeding one’s official duties can lead to a number of consequences, which are often negative. In this case, an alliance of influential banking groups sued both Chopra himself and the organization in which he works. Having exceeded his authority, he caused various inconveniences to bank employees, although his main goal was to protect clients from unlawful discrimination.
Chopra probably tried to ensure that everything was transparent and honest on the part of the banks in relation to customers, but still, he acted incorrectly in several cases. He independently made several amendments to the schedules of inspections of banks, as well as introduced new articles that also brought a lot of trouble to the banking alliance. Regular inspections that he carried out took a lot of time and also caused significant financial damage to banks. Naturally, periodic examinations are necessary, but regular and gratuitous ones can only interfere with work and violate several other rules concerning the banks (Um-e et al., 2019). Banking groups stated that there was no violation of the anti-discrimination policy and there was no need for regular inspections and expansion of the scope of the law.
In conclusion, in modern times, there are many different problems that are covered through news channels. One recent news was the abuse of authority by one of the employees of the Consumer Financial Protection Bureau, Rohit Chopra. He developed a law that forced banks to undergo regular inspections to track the absence or presence of discrimination against customers. Naturally, banking groups were outraged that Chopra independently, without an official announcement, introduced a law that not only forced banks to undergo inspections but also made many changes to the documentation and that forced the banking organizations themselves to incur additional costs for legal services and documentation changes.
References
Flitter, E. (2022). Banks accuse consumer regulator of abuse of power. Web.
Hodes, C., & Mennicke, A. (2019). Is it conflict or abuse? A practice note for furthering differential assessment and response. Clinical Social Work Journal, 47(1), 176-184. Web.
Um-e-Laila; Iqbal, S., & Rasheed, M. (2019). Abusive supervision and workplace deviance: The moderating role of power distance.Pakistan Journal of Commerce and Social Sciences, 13(2), 334-357. Web.
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