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The latest bank earnings show that Dodd-Frank is working 

October 16, 2015

Stephen Gandel, Fortune

 

Dodd-Frank took a beating in the Democratic debate, but if you look at the banks’ recent earnings, there are signs the law is working.

JPMorgan Chase reported its earnings on Tuesday night, and results were not great. It’s bottom line was lower than analysts expected. Revenue was down. Activity in its bond trading division was weaker than expected. And earnings were lower than analysts had predicted.

All of this constituted a disappointment, unless you are a regulator or someone who still thinks banks are too big. Indeed, the big banks’ third quarter earnings offer some of the best signs so far that Dodd-Frank, the financial reform law passed in the wake of the financial crisis, is working.

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