Skip to main content

Category: Consumer Protection

Congress Is Right to Scrutinize Forced Arbitration and Regulators Should Exercise the Authority They Have to Ban It

WASHINGTON, D.C. — Stephen Hall, Legal Director and Securities Specialist, issued the following statement on tomorrow’s hearing titled “Small Print, Big Impact: Examining the Effects of Forced Arbitration,” being convened by the Senate Judiciary Committee: “We commend the Committee for continuing its work to shine a light on the harmful impact of forced arbitration clauses.  […]

Read More

Sidelining or Weakening the CFPB Will Hurt All Financial Consumers, But People of Color Stand to Suffer the Most

WASHINGTON, D.C.— Stephen Hall, Better Markets’ Legal Director and Securities Specialist, issued the following statement in connection with today’s filing of an amicus curiae brief in the U.S. Supreme Court in CFPB v. Community Financial Services Association of America.  The brief was led by the Lawyers’ Committee for Civil Rights Under Law and joined by Better Markets […]

Read More

Better Markets’ Objects to Goldman Sachs’ Request For a License to Lie

WASHINGTON, D.C.— Dennis Kelleher, Co-Founder, President, and CEO, issued the following statement on Better Markets’ Amicus brief filed in the case of  Arkansas Teacher Retirement System v. Goldman Sachs Group, Inc. in the United States Court of Appeals for the Second Circuit. “Goldman Sachs claims that it should not be liable for its false statements about […]

Read More

Ongoing Crypto Carnage Demonstrates Need for CFTC to Proceed Carefully with a Transparent, Robust Process for Considering FTX’s Auto-Liquidation Proposal

WASHINGTON, D.C.— President and CEO Dennis M. Kelleher issued the following statement in connection with sending a letter to Commodity Futures Trading Commission (CFTC) Chair Russ Behnam raising concerns related to the consideration of FTX’s auto-liquidation proposal: “Today Better Markets sent a letter to Chair Russ Behnam of the CFTC urging him to ensure the […]

Read More

SEC Proposal Will Bring Transparency and Accountability to Security-Based Swaps Market, But Some Gaps Would Remain

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission in response to the agency’s proposed rules on security-based swap execution facilities: “These rules have taken years to develop but they will finally establish a critical set of reforms we need […]

Read More

Op-Ed in Financial Planning: The Department of Labor Must Do More to Protect Retirement Savers

WASHINGTON, D.C.— Better Markets’ Legal Director and Securities Specialist Steve Hall and Christine Lazaro, Professor of Clinical Legal Education and Director of the Securities Arbitration Clinic at St. John’s University School of Law, highlight the urgent need for the U.S. Department of Labor to strengthen protections for retirement investors and require financial advisors always to act […]

Read More

SEC Proposal Would Establish Comprehensive Cybersecurity Disclosure Requirements for the Benefit of Investors

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule that would establish comprehensive cybersecurity disclosure requirements for publicly traded companies: “This proposal represents a major step forward in making sure […]

Read More

SEC Must Close Loopholes in Proposal to Ensure Short Selling Comes Out of the Shadows

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposal to bring more transparency to short selling activity: “To protect investors and markets, short selling transparency must be increased.  Disclosures must be […]

Read More

Better Markets Supports SEC Proposal to Increase Transparency and Rein in Abuses by Private Fund Advisers

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) on the agency’s proposed rule that would require enhanced disclosures by private fund advisers and prohibit adviser practices that are especially harmful to fund investors: “The private funds […]

Read More

SEC Proposal Will Bring More Oversight and Transparency to Dark Pools and Electronic Trading Platforms

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule that applies Regulation ATS governing “alternative trading systems” to platforms trading government securities and appropriately regulates Communication Protocol Systems as exchanges: […]

Read More

SEC Proposal Will Increase Transparency and Fairness by Modernizing the Beneficial Ownership Reporting Rules

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) on the agency’s proposal to revise its rules governing reporting by those who acquire large ownership interests in public companies. “The SEC has rightly decided that it’s time […]

Read More

SEC Proposal on Whistleblower Program Is a Positive Step But There’s Still Room for Improvement

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) on the agency’s proposal to rollback harmful limits on whistleblower awards: “The SEC’s whistleblower program has been an enormous success, yet in 2020, the SEC adopted rules that […]

Read More

Better Markets Urges SEC to Close Loopholes That Allow Abusive Insider Trading

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission in response to the agency’s proposal to rein in abusive insider stock trading: “In light of the well-documented history of abuses involving insider trading by executives acting under the […]

Read More

Better Markets, Joined by the Consumer Federation of America, Files Amicus Brief Urging Tenth Circuit to Give Investors Claiming Market Manipulation a Chance to Prove Their Case

FOR IMMEDIATE RELEASE Thursday, February 3, 2022 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.—Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement after Better Markets and the Consumer Federation of America filed an amicus brief urging the U.S. Court of Appeals for the Tenth Circuit to reverse […]

Read More

Better Markets Supports CFPB Proposal to Fight Gender and Racial Financial Inequality by Requiring Robust Small Business Lending Data Collection

FOR IMMEDIATE RELEASE Thursday, January 6, 2022 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Consumer Financial Protection Bureau on its proposal to require financial institutions to collect and report demographic and other data […]

Read More

Better Markets Applauds the OCC For Rescinding Unilateral, Fatally Flawed, and Grossly Deficient Rewrite of the Community Reinvestment Act

FOR IMMEDIATE RELEASE Tuesday December 14, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement on today’s action by the Office of the Comptroller of the Currency to rescind its rule to rewrite the Community Reinvestment Act: “We applaud […]

Read More

The Supreme Court Should Give Retirement Savers the Chance to Prove Their Claims for Breach of Fiduciary Duty

FOR IMMEDIATE RELEASE Thursday, December 2, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement ahead of Monday’s oral argument before the U.S. Supreme Court in the case of Hughes v. Northwestern University: “The Court has an opportunity to improve […]

Read More

Better Markets Applauds OCC Proposal to Rescind its Seriously Flawed 2020 CRA Rule

WASHINGTON, D.C.— Today, Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement regarding the comment letter it filed and two comment letters it signed onto regarding the Office of the Comptroller of the Currency’s proposal to rescind its 2020 Community Reinvestment Act rule: “Better Markets has submitted a comment letter in […]

Read More

Court Should Let SEC Protect Investors, Not Citadel’s Profits

This case will determine whether the SEC can level the playing field for all investors or whether Citadel will succeed in protecting the status quo so it can continue raking in huge and unfair profits.  The SEC approved an innovative new order type developed by a pro-investor exchange known as IEX, which helps neutralize the […]

Read More

Better Markets’ Look at the U.S. Supreme Court, As It Decides Cases Affecting the Financial Lives of Every American

WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the publication of a new Better Markets report, THE SUPREME COURT’S 2021-2022 TERM:  A Review of the Cases Affecting Every American’s Financial Well-Being; A Look Back At Justice Kavanaugh’s Track Record; And An Update On The Court’s Transparency Challenges: “Every […]

Read More

The Swearing in of Rohit Chopra as Director of the CFPB Is a Great Day for Consumers Confronting Abusive Payday Lenders, Predatory Banks, and a Broken Student Loan System

Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the swearing-in of Rohit Chopra as the new Director of the Consumer Financial Protection Bureau (CFPB): “With Director Chopra officially installed as the CFPB’s Director, we can rest assured that the agency will once again fulfill its […]

Read More

Better Markets Urges SEC to Protect Investors From Predatory Trading Platforms

Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the filing of a comment letter to the Securities and Exchange Commission (SEC) in response to their Request for Information (RFI) on digital engagement practices (DEPs) and the gamification of investing through online trading platforms and mobile apps: “We commend the […]

Read More

Consumer Protection Will Again Be The Priority at the Consumer Financial Protection Bureau with New Director Rohit Chopra

WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement regarding the Senate’s confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB): “We applaud the Senate for confirming Rohit Chopra as the new Director of the Consumer Financial Protection Bureau (CFPB).  Mr. Chopra is […]

Read More

Better Markets Joins Amicus Brief Urging U.S. Supreme Court To Help Protect Americans’ Retirement Savings

FOR IMMEDIATE RELEASE Monday, September 13, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.—Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement after Better Markets joined with AARP and other prominent public interest groups on a Supreme Court amicus brief filed today in the case of Hughes v. […]

Read More

The Federal Reserve’s FedNow Instant Payments Service Will Provide Great Benefits but Must Also Consider Enhanced Protections

FOR IMMEDIATE RELEASE Thursday, September 9, 2021 Contact: Doug Walker at 202-618-6430 or [email protected]  WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy at Better Markets, released the following statement on a comment letter to the Federal Reserve Board led by the National Consumer Law Center:   “Better Markets joined efforts led by the National Consumer Law […]

Read More

Federal Court Upholds Important Consumer Protections in CFPB Payday Lending Rule, But More Needs to be Done

FOR IMMEDIATE RELEASE Tuesday, September 7, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C. — Today, Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, released the following statement on the U.S. District Court for the Western District of Texas’s recently issued decision to uphold the payment provisions in the Consumer Financial Protection […]

Read More

Statement on SEC Chair Gensler’s Appointment of Barbara Roper as Senior Advisor

FOR IMMEDIATE RELEASE Wednesday, August 25, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement on Securities and Exchange Commission (SEC) Chair Gary Gensler’s appointment of Consumer Federation of America investor protection director Barbara Roper as a senior advisor:  “Chairman […]

Read More

Amazon Takes a Step in the Right Direction on Forced Arbitration, But There’s Room for Improvement

FOR IMMEDIATE RELEASE Tuesday, July 20, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on Amazon’s decision to dispense with mandatory arbitration: “Forced arbitration clauses that companies tuck into their fine-print agreements have been the bane of consumers […]

Read More

Exposing De-Regulatory Myths in Consumer Financial Protection

Better Markets released a blog post debunking three prominent de-regulatory myths in financial regulation. As new leadership is appointed at the regulatory agencies, now is a good time to reflect on some of the most egregious mistakes of the prior administration in the area of financial regulation—in short, to remember what not to do when it comes to […]

Read More

House Killing OCC’s Pro-Predators Lending Rule Is a Huge Victory for Financial Consumers

FOR IMMEDIATE RELEASE Thursday, June 24, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C.  –  Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on today’s House vote to nullify the so-called “true lender” rule issued last October by the Office of the Comptroller of the Currency (“OCC”): […]

Read More

Today’s Supreme Court Decision Risks Letting Goldman Sachs and Other Corporations Lie to Investors with Impunity

FOR IMMEDIATE RELEASE Monday, June 21, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the Supreme Court’s decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, issued this morning: “What’s at stake in the case […]

Read More

Today’s Supreme Court Decision Risks Letting Goldman Sachs and Other Corporations Lie to Investors with Impunity

FOR IMMEDIATE RELEASE Monday, June 21, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the Supreme Court’s decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, issued this morning: “What’s at stake in the case […]

Read More

Exposing De-Regulatory Myths in Consumer Financial Protection

Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the release of a blog debunking three prominent de-regulatory myths in financial regulation:   As the Biden administration installs new leadership at the regulatory agencies, now is a good time to reflect on some of the most […]

Read More

Blog: Exposing De-Regulatory Myths in Consumer Financial Protection

Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the release of a blog debunking three prominent de-regulatory myths in financial regulation:   “As the Biden administration installs new leadership at the regulatory agencies, now is a good time to reflect on some of the most […]

Read More

Debunking Three De-regulatory Myths in Consumer Financial Protection

Introduction: False Narratives Undermine Consumer Protection As the Biden administration settles in and installs new leadership at the regulatory agencies, it’s a good time to expose and debunk some of the myths that gained ground over the last few years. In short, as we move forward, it’s time to remember what not to do when […]

Read More

Better Markets Applauds Ally Bank for Eliminating Overdraft Fees That Punish the Poorest and Most Vulnerable Americans

FOR IMMEDIATE RELEASE Tuesday, June 2, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, applauds Ally Bank’s action today to eliminate all overdraft fees: “We applaud Ally Bank for eliminating all overdraft fees on all accounts effective immediately without requirements or restrictions.  We […]

Read More

Better Markets Applauds Ally Bank for Eliminating Overdraft Fees That Punish the Poorest and Most Vulnerable Americans

FOR IMMEDIATE RELEASE Tuesday, June 2, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, applauds Ally Bank’s action today to eliminate all overdraft fees: We applaud Ally Bank for eliminating all overdraft fees on all accounts effective immediately without requirements or restrictions.  We […]

Read More

CFPB Must Fix Abusive Debt Collection Rules

Better Markets filed a comment letter urging the CFPB to revisit two “heartless” and, frankly, despicable debt collection rules before they go into effect later this year. Earlier this month, Better Markets responded to a request for comment on a proposal to delay the effective date of two debt collection rules for 60 days. We […]

Read More

Better Markets Urges CFPB to Revisit Heartless Debt Collection Rules that Expose Vulnerable Consumers to Abusive Debt Collectors

Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the filing of a comment letter to the CFPB today on the need for additional consumer protections against abusive debt collectors: “In 2020, the CFPB, under the leadership of former Director Kathleen Kraninger, finalized two rules on […]

Read More

Everything You Need to Know about the GameStop Frenzy and Key Players, including Robinhood, Citadel, Reddit, Roaring Kitty & Rigged Markets

House Financial Service Committee Chairwoman Maxine Waters held a third hearing on Thursday, May 6, to examine the recent market volatility involving GameStop and other stocks. The virtual hearing, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III” can be viewed here. Also, Better Markets’ Dennis Kelleher recently discussed […]

Read More

Better Markets Joins Other Groups in Call For Further Action by the Department of Labor to Protect Retirement Savers

FOR IMMEDIATE RELEASE Friday, May 7, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C.  –  Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on a joint letter submitted to the Department of Labor (“DOL”) calling for further guidance and rulemaking to rein in adviser conflicts of interest: […]

Read More

Decision in Ford v TD Ameritrade Denies Investors their Day in Court

The Eighth Circuit Court’s rejection of a proposed class-action lawsuit from investors who accused TD Ameritrade of securities fraud is disappointing, denies investors their day in court, and inappropriately insulates the industry from meaningful scrutiny and accountability. Last week, the U.S. Court of Appeals for the Eighth Circuit sided with the brokerage firm which said that […]

Read More

Eighth Circuit Denies Injured Investors Their Day in Court–Decision Will Help Perpetuate Legalized Bribery in Our Securities Markets

FOR IMMEDIATE RELEASE Friday, April 23, 2021 Contact: Pamela Russell at 202-618-6433 or [email protected] Washington, D.C.  –  Stephen Hall, Legal Director, and Securities Specialist released the following statement regarding today’s decision from the Eighth Circuit in Ford v. TD Ameritrade: “Today’s decision by the Eight Circuit Court will cause tens of millions of investors to […]

Read More

1 2 3 7

Contact Us

For media inquiries, please contact [email protected] or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact [email protected] or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today