Magazine article American Banker

Morning Scan: Calls to Fix 'Bro Talk' Culture, Executive Pay

Magazine article American Banker

Morning Scan: Calls to Fix 'Bro Talk' Culture, Executive Pay

Article excerpt

Byline: Victoria Finkle

Receiving Wide Coverage ...

A new wrinkle: Reuters reports that a Swiss banking association is seeking to build a post-Brexit coalition with Britain, Hong Kong and Singapore to form a so-called "F4 alliance" that would look to set international standards and possibly strike a deal with the European Union. The Financial Times notes, "The Swiss bankers' association first suggested launching a 'F4' financial centres group in 2012."

Wall Street Journal

Homeowners cheer: Average 30-year-mortgage rates fell to 3.34% this week, in line with all-time lows set in 2012. That's a boost for the mortgage business, though banks are still struggling to turn a strong profit in the current economic climate.

Tough slog: Some of the biggest online lenders, including Lending Club, Prosper and Avant, have announced job cuts in recent weeks -- essentially "hunkering down for a prolonged period of difficulty rather than a brief market correction."

New York Times

Language matters: Casual chatter about women -- and their bodies -- is destructive. It may even be at the root of Wall Street's persistent gender diversity problem, an opinion piece in the paper suggests. "'Bro talk' produces a force field of disrespect and exclusion that makes it incredibly difficult for women to ascend the Wall Street ladder," writes Sam Polk, a former hedge fund trader, about his experiences in the banking industry. …

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