Do loyal consumers remain indifferent to alleged bank irresponsibility? Consumer loyalty in the context of moral emotions and boycott intentions

<ns3:p>Accusations of socially irresponsible practices leading to punitive consumer responses occur in every industry. However, our understanding of this issue in commercial banking is limited. This study, therefore, seeks to address this knowledge gap. Specifically, its main objective is to examine the role of consumer loyalty in shaping the effects of moral emotions evoked by awareness of an alleged corporate social irresponsible (CSI) incident. The results of a representative survey on consumer reactions to the turmoil in the Polish banking industry relating to Swiss franc mortgages showed that feelings of moral anger serve as a mediator between awareness of CSI allegations and intentions to boycott. Customers’ loyalty to the bank appeared to increase the strength of the relationship between awareness of CSI accusations and anger. Compassion towards Swiss franc borrowers were unrelated to alleged CSI, as the public may not feel compassion towards those with CHF mortgages, as not all borrowers have suffered from the appreciation of the Swiss franc</ns3:p>