# In an op-ed, Prof. Roy Smith discusses New York Fed President William Dudley's remarks on bank cultures

1 Faculty News November 10, 2014 ![Financial News logo ](/sites/default/files/styles/246w/public/assets/images/con_030513.jpg?itok=TpE2KEls)>

Excerpt from [Financial News](http://www.efinancialnews.com/story/2014-11-10/banking-misconduct-william-dudley-new-york-fed-comment) -- "It would be momentous and unprecedented for the Fed openly to force a bank to break up. But the power to do so under Dodd-Frank is certainly there, though the process is complex and can be appealed. Dudley’s cultural workshop may actually be less about culture and more a blunt warning to those banks the Fed considers to be moving too slowly in transforming themselves into the well-managed entities it wants. Those banks know who they are. As Dudley says, they need to 'get on with it'."

[Read more](http://www.efinancialnews.com/story/2014-11-10/banking-misconduct-william-dudley-new-york-fed-comment)