| The 2008 financial crisis highlighted the need for additional regulations to protect consumer interests. Although prior studies examining this crisis have centered on rebuilding trust between the banking industry and the customer, none have specifically researched the relationship between customers, employees, and bank leaders as it pertains to trust. Toward this end, this qualitative study examined this issue by addressing the following research question: How do the ethical behaviors of senior financial leaders influence trust between leaders, employees, and customers? To address this question, the study focused on a small mid-western private bank to identify the concerns of bank leaders, employees, and customers as they related to the financial crisis. The study also inquired about the expected behaviors of stakeholders across a range of participants using a stratified sampling process with 18 interviews conducted in total. The study identified failings in the decision-making process and ethical standards of organizations and corresponding leadership, addressed behavioral issues, both individual and organizational, and outlined options for bank leaders to re-establish trust between leaders, employees, and customers. The findings identified the need for leaders to role model the expected behaviors, the values of honesty, integrity, and trustworthiness, being leaders of strong moral character to begin the process of rebuilding trust among stakeholders.;Keywords: virtue values, trust, role modeling, open communication, character. |
