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This month, the financial regulatory agencies seemed determined to outdo one another in in enacting dangerous deregulation (tracked by agency here). If the country hadn’t just suffered through the horrific 2008 crash, this would be irresponsible; given that the country is still suffering from the consequences of that crash and these actions are likely to cause another crash, this conduct comes close to being criminal. For example, the CFPB rescinded dozens of prior agency interpretive rules and policy statements, the CFTC took action to allow unlimited and unregulated gambling on elections (with the inexplicable help of a Democratic Commissioner), the Federal Reserve hired Wall Street lobbyists and a former Goldman Sachs VP to “regulate” Wall Street, and the SEC’s new chair cemented his solidarity with the crypto industry.

These actions are undermining the core pillars that protect the American people from financial predators, illegal conduct, and financial stability. That’s the bad news. The good news is that our dedicated experts at Better Markets continue to expose and highlight these injustices, speak out against the deregulatory actions, and fight for Main Street America and the public interest across all of Washington DC.

At times, it can feel like an uphill battle. There are truly too few people and groups fighting for the public interest over special interests in Washington. That’s why we are honored that, for the fifth year in a row, our CEO Dennis Kelleher was named to Washingtonian Magazine’s Most Influential People in Washington list.

Influencing people in power and getting policy outcomes is what it’s all about in Washington. That’s why private companies spend billions of dollars every year on lobbyists and trade groups, all of which claim to be influential. However, there are few independent validators of influence in Washington, but the Washingtonian Magazine is one of them. Every year it conducts a comprehensive review of the many thousands of people trying to influence policy and they pick just the 500 most influential.

Dennis is—once again—the only public interest nonprofit leader represented in the Banking & Finance category, and his recognition shows Better Markets’ impact as an effective counterweight to the financial industry in Washington. This recognition is a testament to the tireless work of our entire team, which is only possible due to our public supporters and generous partners like the Surdna Foundation. We recently teamed up with Surdna to build a more just, inclusive and equitable economy, which enables us to keep pushing back and fighting for what’s right.

We’re deeply grateful for your support. With your help, we will always fight for the public interest over special interests and Wall Street profits. In this time of great need, I’d ask you to consider making a donation today.

Kindly,

Maryan

Maryan Abdelmesih
Director of Strategic Partnerships and Development

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