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In his remarks, he reiterated certain points from his previous speeches, noting that there still remain "deep-seated cultural and ethical failures" in the financial services industry that need to be handled from the inside out.
On November 5, 2015, William C. Dudley, President and Chief
Executive Officer of the Federal Reserve Bank of New York, made
opening remarks at the Reforming Culture and Behavior in the
Financial Services Industry: Workshop on Progress and Challenges.
In his remarks, he reiterated certain points from his previous
speeches, noting that there still remain "deep-seated cultural
and ethical failures" in the financial services industry that
need to be handled from the inside out. He continued to encourage
the industry to focus not just on banning specific examples of
misconduct, but rather to try to find the underlying causes.
"I think our focus should be less on the search for bad apples
and more on how to improve the apple barrels."
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