Defending Main Street
Protecting Consumers, Investors, Retirees and Markets from the Predators
Financial Reform and Stability
Preventing Financial Crashes and Economic Collapse While Protecting Your Pocketbook, Our Shared Prosperity and America’s Limited Resources
Accountability
Returning the Law to Wall Street While Watching the Watchdogs, Defending Democracy, Transparency and Open Government
Advocacy and Outreach
Supporting the productive economy, creating wealth and broad-based prosperity while reducing systemic threats, inequality and economic insecurity
“[Better Markets] first shot to fame during the 2008 global financial crisis when it became a thorn in the side of Wall Street and Washington regulators because it complained loudly—and correctly—about the follies of excessive financial deregulation. Since then, it has continued to scrutinize the more recondite details of US regulation, complaining, again rightly, that the rules have recently been watered down.”
“Dennis Kelleher and his team at Better Markets have consistently pushed for financial reform that will help protect the U.S. economy from another financial crash. They are strong partners in the fight to level the playing field for middle-class families and have been persistent fighters for the American people, their jobs, savings and retirements.”
“Better Markets has served as a valuable and important voice pushing for fairness in our financial system.”
“Dennis Kelleher over at Better Markets, a huge presence in Washington, DC. A nonprofit, of course, established to make finance and government serve society a little bit better.”
“Dennis Kelleher [is] one of the most powerful lobbyists on financial regulatory reform.”
“It's more important than ever that consumers and taxpayers have strong advocates like Dennis and Better Markets to stand up for ordinary Americans.”
“Kelleher, a former attorney at Skadden, Arps, Slate, Meagher & Flom, has become well-known for his critique of both Wall Street banks and regulators who he has often accused of failing to hold the banks accountable for wrongdoing.”
Shaping the news, amplifying the public’s voice and analyzing new policies so Main Street doesn’t get left behind.
Comment
Letters
Better Markets filed more than 450 Comment Letters at the financial regulatory agencies and self-regulatory organizations.
Rule
Citations
Better Markets was cited over 170 times in final rules, showcasing the impact our subject matter experts make on the rulemaking process.
Court
Filings
Better Markets argues for strong regulation, effective remedies for investors, and a rulemaking process that complies with the law.
Print
Articles
Better Markets subject matter experts are continually sought after to amplify the public’s voice and to analyze new policies so Main Street doesn’t get left behind.
Why is the recent @Kalshi decision and allow betting on U.S. elections so dangerous? A few examples...
https://bettermarkets.org/analysis/cftc-must-reject-proposal-to-allow-gambling-on-u-s-elections/
Over the weekend a court reached a dangerous decision to allow @Kalshi to begin offering wagers on U.S. elections. This has the potential to corrupt the integrity of our elections, trigger market manipulation, and victimize countless investors.
Court Takes Dangerous Step Towards Allowing Gambling on U.S. Elections, Threatening Democracy and...
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on the decision ...
bettermarkets.org
A Court’s decision has overturned a well-reasoned order by the @CFTC denying @Kalshi petition to offer an event contract on which party will win control of Congress.
In these pivotal and fragile political times, the last thing our country needs is for democracy to be undermined…
While we are encouraged by a proposed rule from regulators on incentive based compensation, the proposal is long overdue, needs improvement, and requires the buy-in of the @SECGov and @federalreserve. Learn more in our new cl:
https://bettermarkets.org/newsroom/more-than-13-years-late-and-counting-proposed-incentive-based-compensation-rule-is-promising-but-is-overdue-and-incomplete-without-the-fed-and-sec/
We are proud to announce that George French has joined Better Markets as a Senior Fellow. George had a long and distinguished career at the @FDICgov.
The depth and breadth of George’s far-reaching experience and expertise in developing banking policy, analyzing the effects of…
Important story by Pam and Russ Martens of "Wall Street on Parade" on the megabanks relentless campaign to mislead the public on a commonsense #capital rule that will help protect Main Street: https://wallstreetonparade.com/2024/09/after-jpmorgan-threatens-to-sue-the-fed-cuts-its-capital-requirement-on-the-5-count-felon-from-a-planned-25-percent-hike-to-less-than-8-percent/
Our Shayna Olesiuk, details #WallStreet's misleading claims on…
📢 Counterparty credit risk (CCR) is a ticking time bomb in our financial system. It's time for concrete, actions to address CCR exposures and protect consumers. We're urge the Basel Committee to strengthen guidelines and enforce stricter limits.
Basel Committee Must Address Counterparty Credit Exposures at Megabanks to Protect Financial...
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with the ...
bettermarkets.org
Financial executives and traders regularly pocket million-dollar bonuses. The prospect of unimaginable and immediate riches, however, often results in those executives and traders taking excessive and unjustified risks.
The executives and traders benefit from immense upside when…
We hope you got some well-deserved rest during August and over the Labor Day weekend. Lots happened during that time that we didn’t want you to miss. Learn more about important developments on Election Gambling, Historic Court Decisions, Crypto, Climate, AI and More:…
The opaque and interconnected web of megabanks’ counterparty credit risk (CCR) exposures can amplify the effects of market shocks, send financial systems into crisis, cause government bailouts, and impose great costs on consumers, investors, and small businesses.
Counterparty…
Our analysis of #SCOTUS' latest term explains that the court's decisions "put virtually all Americans at greater risk from the powerful, wealthy, and well-connected." https://bettermarkets.org/newsroom/analysis-of-recent-supreme-court-decisions-harmful-impact-on-main-street-americans/
.@DennisKelleher tells @bgomezreports of @CNBC's #CryptoWorld that the industry has greatly exaggerated the number of Americans who use crypto and that most voters actually have a negative view of it.
https://www.cnbc.com/video/2024/08/23/bitcoin-rises-fed-chair-lays-groundwork-for-rate-cuts-crypto-world.html
.@FDICgov's new rule is a big win for fairness and equality in banking. Qualified individuals with minor or old offenses now have a fair chance at employment, challenging the outdated double standard that favored high-level execs.
FDIC Removes Barriers to Qualified Americans Seeking Employment in Banking, Especially Those from...
...
bettermarkets.org
Summer is often a slow time in Washington, but not this year! Aside from political news, there’s lots of economic and financial news that directly impact the lives and livelihoods of all Americans. Our team has been busy working in areas from artificial intelligence, crypto and…
#Banks are unprepared for #climate risks, and regulators are falling behind. It's time for urgent action to protect Main Street and ensure financial stability. #ClimateRisk
Fact Sheet: Banking Regulators Must Act Fast to Catch Up on Climate Financial Risk Management to...
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and CEO, issued the following statement in connection with t...
bettermarkets.org
A top regulator recently said "We don’t exist to serve banks; banks exist to serve us.’ That's why regulators must reject @CapitalOne's merger with Discover, which will bring about higher fees, less choice, and more concentration. https://bettermarkets.substack.com/p/the-capital-one-discover-merger-should
.@DennisKelleher joined @CNBC's #CryptoWorld w/ @bgomezreports to discuss why @VP Harris should reject the #crypto industry's massive influence campaign and focus on issues that matter to Main Street. Find the full interview here: https://www.cnbc.com/video/2024/08/23/bitcoin-rises-fed-chair-lays-groundwork-for-rate-cuts-crypto-world.html
.@DennisKelleher joined an call with @ImpactAlpha , which included a discussion of the dangerous implication of the Supreme Court's 2023-2024 term. You can learn more about these cases and how they impact Main Street Americans here: https://bettermarkets.org/newsroom/analysis-of-recent-supreme-court-decisions-harmful-impact-on-main-street-americans/
WATCH: @DennisKelleher talk to @BBCBreaking about the #crypto industry's efforts to influence the 2024 presidential campaign. https://bettermarkets.org/analysis/setting-the-record-straight-on-crypto-ftx-sam-bankman-fried-jamie-dimon-the-sec-and-cftc-and-the-revolving-door/
#AI's potential is huge, but so are the risks! To balance innovation with safety, we need proactive regulation that protects Main Street Americans. Key steps: unify AI definitions, boost funding & expertise, address data issues, pre-approve systems, enforce standards, and ensure…
The @SECGov's #climate risk disclosure rule will help ensure investors get crucial info on climate-related risks. In our amicus brief we explain that the rule aligns with the #SEC’s mission and strengthens market transparency. 🌍
https://bettermarkets.org/newsroom/court-should-uphold-secs-climate-risk-disclosure-rule-to-protect-investors-and-our-markets/
Despite $2 trillion in #nonbank lending in 2023, the @federalreserve lacks crucial data on these loans. We urge the Fed to enhance data collection and transparency on banks’ nonbank lending to better manage risks and protect financial stability.
More Transparency is Needed to Protect the Financial System Against Large Banks’ Lending to...
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with a co...
bettermarkets.org
📢 New from our Team: #AI is transforming finance but poses risks like fraud & discrimination. We're urging regulators to enhance oversight with clear regulations, funding for enforcement, & transparency. Let’s balance innovation with financial protection rules for #MainStreet.
.@AmerBanker's @kateberry1 writes on the financial industry's relentless attacks on the @CFPB. Why is the industry trying to destroy the agency? The #CFPB has put more than $17 billion back in the pockets of victimized financial consumers.
New wave of challenges to CFPB's funding gains steam
Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve,...
www.americanbanker.com
In a new report our team warns that the #SCOTUS is dismantling the ability of the government to protect the health, safety, and financial well-being of the American people. Dive into our analysis:
Analysis of Recent Supreme Court Decisions’ Harmful Impact on Main Street Americans | Better Markets
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and CEO, issued the following statement in connection with t...
bettermarkets.org
#AI is transforming financial services, but it comes with risks. Our new comment letter and fact sheet urges financial regulators to enhance oversight, balance innovation with consumer protection, & ensure transparency. #AI #Finance #Regulation
Financial Regulators Must Balance the Promise and Peril of Artificial Intelligence | Better Markets
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with the ...
bettermarkets.org
Sarah Jarvis of @Law360 writes on the legal fight over the @SECGov's climate rule. Our Steve Hall notes in the story "Investors of all types have long been clamoring for such a rule."
SEC Climate Rules Backed By Wave Of Amici At 8th Circ. - Law360
The U.S. Securities and Exchange Commission has received a wave of support for its recently adopted climate disclosu...
www.law360.com
Allowing #betting on #elections raises serious questions about the integrity of a democracy.
Just look at what happened in the United Kingdom this summer. Illicit bets were reportedly placed by political party members and police officers, some of whom had insider knowledge of
“Right now, American democracy is already in a fragile state" our Cantrell Dumas told @TonyRomm of the @washingtonpost in his story examining betting on U.S. elections. "If you’re a politician, would you want someone to bet on your election?”
U.S. looks to ban election betting as traders flock to prediction sites
The CFTC's crackdown on political futures contracts faces stiff resistance as some sites want to allow wagers of millions of dollars.
www.washingtonpost.com
If you’ve been following this year’s tumultuous election, you’ve already seen #gambling infiltrate our political conversation. Political pundits are not just referencing polls, but also the money being bet on the outcome of the Presidential election itself.
The potential for
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