Fed's Dudley pushes to change pay structure for bank execs and wants them held liable for scandals

Banks need to stop rewarding the kind of bad behavior that led to the Wells Fargo fake accounts scandal and other banking misdeeds, New York Fed President William Dudley said Monday. Dudley to make managers, not shareholders, more personally liable for fines and "other legal liabilities" and said pay structure should be changed to stop awarding short-term performance....(read more)

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