Poor bank culture a stability risk; work needed – Fed’s Dudley

The culture within big banks remains a possible source of financial instability seven years after the worst crisis since the Great Depression, and more work is needed to reform the underlying causes of Wall Street misconduct, a top Federal Reserve official said on Thursday. New York Fed President William Dudley kicked off a conference of bankers and regulators with a warning that public trust in financial institutions has been compromised, and he urged Wall Street to focus less on seeking out "b