To some, the 2,300-plus pages in the Dodd-Frank bill represents a daunting new regulatory-compliance headache. To State Street Bank, it’s a business opportunity.
During today’s earnings conference call, State Street Bank CEO Joseph L. Hooley said that the bank’s investigation of the new bill has revealed “new servicing opportunities.” While he didn’t elaborate, I believe him. He’s backed by a company with a market capitalization of $18.9 billion, after all.