Requires a youth applicant to fill out a supplemental form

Assignment Help Business Law and Ethics

Reference no: EM133282914

Scenario:

You have been accepted for a 6-month internship with the VISA credit card division of TD Canada Trust bank in the customer service area. If your internship is successful, there is a possibility of transitioning to full-time employment with a solid annual salary.

On your first day at work, your trainer, Anisha Khan, hands you a credit card application for an employed 17-year old named Paolo Juliano, and she gives you the following instructions:

"Tell him 'no,' for now. Imagine he is a fish on your line and you need to keep him on the line until he is old enough-18 years old-to re-apply, unless you can think of an alternative strategy. Write a reply message and bring me your draft before lunch."

Important details:

Paolo's birthday is in 10 months. Ms. Khan also hands you a thick binder titled TD Canada Trust and VISA Credit Card Issuing Policies, and she says, "Consult this text." When she sees the shock on your face, she adds, "Document 5, sub-section 10. Look it up."

You quickly read the section and learn that the bank policy, as well as legal regulations and restrictions, typically forbid issuing a credit card to people under 18 years of age. However, there are exceptions if a parent or guardian agrees to be a guarantor and co-signs the application. Accordingly, if a minor does not meet the payment obligation, the guarantor then becomes accountable and responsible for the payment, or risks having their own credit rating compromised.

In addition to a guarantor, TD-VISA requires a youth applicant to fill out a supplemental form detailing both their own employer and the relevant income, as well as the guarantor's employment details.

TASK - Consider the following when preparing the draft for Anisha (FACED):

ANALYSE and DEFINE: Given this situation, what exactly is Anisha Khan asking you to do in responding to Paolo's request?
GENERATE: the best possible response (there are a few options).
EVALUATE: What are the advantages/disadvantages of each response?
WRITE: a message to Paolo that delivers the news.
DELIVER: Choose the proper channel of communication (and organizing principles)

Reference no: EM133282914

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