The ANB Banking Group's Board of Directors is a tightly knit, cohesive group. An assessment shows that all 8 members achieved high scores on the group dependent scale. As could be expected from a group like this they displayed many of the characteristics of group think such as the illusion of invulnerability, rationalization, stereotyped views, pressure on dissent, self censorship, the illusion of unanimity and mindguarding/information filtering. The CEO came up with the idea to introduce new banking products into the market that bordered on the exploitation of customers.
Even though some board members had misgivings about the unethical nature of these products, they remained silent. It was an unspoken rule not to the rock the boat, and no - one wanted to risk becoming alienated from the group. Reluctant to upset the group's cohesion, directors rationalized that this would be good for banking and customers, and that even though the CEO's proposal was risky, it would all work out.
ANB went ahead with its products but after a few years the banking ombudsman launched an investigation into ANB after many customer complaints. The ombudsman ruled that some of ANB's practices were unethical and that clients who had been unfairly treated be reimbursed. The ombudsman also imposed a fine of several million dollars on ANB as a punitive measure to discourage like practices in the banking industry.