NY Fed's Dudley says regulators should increase focus on bank executives

Banks should adopt compensation plans that discourage excessive risk-taking and place greater onus on senior managers for wrongdoing, the outgoing head of the New York Federal Reserve said on Monday. William Dudley, who plans to step down later this year, said regulators should encourage banks to overhaul their corporate cultures to reduce risk and bad behavior, even as regulators move to relax other rules introduced following the 2007-2009 financial crisis. READ MORE