Banks Work to Measure Culture as Well as Numbers - The Minute

Last fall, New York Federal Reserve President William Dudley used the word “culture” forty-four times in a speech warning bank executives that regulators would break up the big banks if they didn’t change their practices. Today, culture has become the new buzzword of the moment in the financial sector. Banks are now focusing on employee attitudes and values to head off the bad behaviors that led to the 2008 financial crisis. But how are banks to measure such a qualitative factor as culture when they have historically scored their worth by quantitative number and data crunching?

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