If I am remembering it corectly, increase in Morality means higher dispassion, so all decisions which are in tune with the mafia way of life (such as letting Luna kill the unconscious thug who tried to kill you in the Beach Prison event, or saying "he got what he deserved" when asked about Trino's death etc).
Decrease in Morality on the other hand would mean decrease in dispassion, where perhaps MC is seen to be more compassionate or forgiving towards his enemies etc.
The term morality is what I think confuses a lot of folks (hell, I was really confused when I came into the concept). In this, game's case, I just interpret game stat "morality" as the Crime Family's sense of morality, which is completely different from how general civilians morality works.
Meow, Catfight!
And yes, I have a feeling this might become a routine when Charvi gets added into the whole mix
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No idea. It will arrive when Hopes is ready to release it. Until then, me and all the fellow DeLuca soldiers are just chilling out.