WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with the Securities and Exchange Commission (SEC) issuing a policy statement stating that the federal securities laws do not preclude public companies from having mandatory arbitration provisions for shareholders: “SEC Chair Paul Atkins is at it again. He’s already […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with Better Markets’ new Fact Sheet, “The SEC Must Make Markets Work for Investors”: “Tomorrow, the SEC will hold a roundtable to discuss its ‘Trade-through Rule,’ which prohibits the execution of trades on one exchange at prices inferior to […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy at Better Markets, issued the following statement in connection with today’s filing of a comment letter to the Federal Deposit Insurance Corporation (FDIC) on proposed changes to guidelines for handling supervisory appeals. “It is vital to have a supervisory appeals process that is strong and fair for […]
Read More
WASHINGTON, D.C.— Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement regarding the anticipated confirmation of Trump’s loyal employee Stephen Miran to the Federal Reserve Board of Governors (Fed). “Trump is playing partisan politics with the pocketbooks of all hardworking Americans by his unprecedented and radical attempt to dictate Fed policy from the […]
Read More
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and CEO of Better Markets, issued the following statement regarding today’s meeting of the Financial Stability Oversight Council (Stability Council). “The Financial Stability Oversight Council—one of the most important and powerful protections that emerged from the financial devastation of the 2008 financial crash—is blatantly undermining its own mission and […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with Better Markets’ new Report, “There’s No Such Thing as Private Market Assets in the Hands of the General Public”: “The private funds industry is desperate to get its hands on the $12 trillion in the retirement accounts of […]
Read More
WASHINGTON, D.C. — Stephen Hall, Legal Director and Securities Specialist, issued the following statement on the release of a special report examining the states’ key role in protecting consumers and investors as federal safeguards are stripped away: “State agencies and attorneys general have long played an important role in protecting Americans from abusive practices by […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement on today’s filing of Better Markets’ comment letter to the Securities and Exchange Commission (SEC) in response to its concept release on foreign private issuers: “U.S. investors are not getting the information that they need about foreign companies. That’s because the […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with the release of Securities and Exchange Commission (SEC) Chair Paul Atkins’s first rulemaking agenda: “The SEC’s first rulemaking agenda under Paul Atkins should worry retail investors. The agenda reflects the SEC’s continued preoccupation under Chair Atkins with integrating […]
Read More
WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Key Questions that the Senate Should Ask Trump Advisor Stephen Miran at His Fed Nomination Hearing,” ahead of nominee Stephen Miran’s confirmation hearing before the United States Senate Committee on Banking, Housing, and Urban Affairs: “The Federal Reserve […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy at Better Markets, issued the following statement in connection with today’s filing of a comment letter to the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, “the Banking Agencies”) on proposed changes […]
Read More
WASHINGTON, D.C.— Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement regarding the unlawful firing of Federal Reserve (Fed) Governor Lisa Cook. “President Trump’s brazen, baseless attempt to fire Fed Governor Lisa Cook is illegal and Fed Chair Jay Powell should immediately say so and publicly state that she is a member in […]
Read More
WASHINGTON, D.C.—Phillip Basil, Director of Economic Growth and Financial Stability, issued the following statement in connection with Better Markets new Fact Sheet, “The Crypto Stablecoin GENIUS Act Hurts All Americans by Undermining the Economy, Financial System, and Monetary Policy”: “The crypto stablecoin GENIUS Act that was signed into law last month is a big win […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement on the Federal Deposit Insurance Corporation (FDIC) proposed rule that lowers the standards that banks must follow related to claiming or suggesting FDIC insurance coverage. “Tens of millions – if not hundreds of millions – of dollars are being lost by bank customers […]
Read More
WASHINGTON, D.C. — A new Better Markets report entitled “15 Years of Financial Reform: Dodd-Frank, Lessons (Un)Learned and the Coming Crash” details the 2008 financial crash’s horrific impact on Main Street Americans, the decades of deregulation that drove the crisis, and the lack of lessons learned, as evidenced by a renewed push for a dangerous […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy at Better Markets, released the following statement upon the release of a recently filed comment letter, which raises significant concerns regarding the proposed overhaul of the rule implementing the Community Reinvestment Act (CRA): “The federal banking regulators’ proposal to rescind the 2023 CRA rule is a serious […]
Read More
WASHINGTON, D.C.—Dennis Kelleher, President, CEO, and Co-founder, issued the following statement in response to the DC Circuit Court’s decision allowing the Trump administration to effectively kill the Consumer Financial Protection Bureau (CFPB): “Hardworking Main Street Americans are ripped off every day by gigantic financial firms when they use their credit and debit cards, savings and […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy at Better Markets, issued the following statement in connection with today’s filing of a comment letter to the Board of Governors of the Federal Reserve System (Fed) on proposed revisions to the large bank supervision framework: “Effective supervision of the nation’s largest banks is one of the […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with Better Markets’ new Fact Sheet, “Chair Atkins’ Agenda is the Industry’s Agenda”: “The agenda of Paul Atkins, the chair of the Securities and Exchange Commission (SEC), is becoming apparent. Unfortunately, Atkins’ agenda betrays the investors whom the SEC […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement after President Trump signed an executive order promoting the inclusion of private market investments in 401(k)s: “This executive order exemplifies the administration’s determination to prioritize the interests of Wall Street over the interests of Main Street and retail investors. Let’s be […]
Read More
WASHINGTON, D.C. — Better Markets is pleased to announce a grant from Rockefeller Brothers Fund to advance the organization’s efforts to reform the U.S. financial system to support the real productive economy which would create broad based growth and wealth creation. Statement from Dennis M. Kelleher, Co-founder, President and Chief Executive Officer of Better Markets: […]
Read More
WASHINGTON, D.C. — Brady Williams, Legal Counsel, issued the following statement in connection with Better Markets’ new Fact-Sheet, titled State Pension Fund Investment in Cryptocurrency: A Risky Gamble with Public Retirement Security: “As more U.S. states consider investing taxpayer-backed pension funds into cryptocurrencies, a new report released today by Better Markets warns that such actions […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with Better Markets’ new Fact Sheet, “Regulate Financial Firms’ Use of AI to Minimize Risks and Maximize Rewards”: “Today, Congress will hold a hearing about artificial intelligence in the financial industry. Artificial intelligence has the potential to improve the […]
Read More
WASHINGTON, D.C.— A new Better Markets fact sheet released today details how the proliferation of corporate banks harms both the financial system and Americans at large. The rapid increase in corporate bank size and complexity far transcends their beginnings as small, state-chartered loan companies designed to serve factory workers and people with low incomes. Moreover, […]
Read More
WASHINGTON, D.C.—Dennis Kelleher, President and CEO of Better Markets, issued the following statement in connection with Better Markets’ filing of a Freedom of Information Act (“FOIA”) request with the Commodity Futures Trading Commission (“CFTC”): “In a highly suspicious sequence of events, the CFTC approved a license for ‘QCX LLC’ after three years of inaction but […]
Read More
WASHINGTON, D.C. — Dennis Kelleher, President and CEO of Better Markets, issued the following statement in connection with sending a letter to the Commodity Futures Trading Commission (CFTC) regarding Polymarket’s reported acquisition of QCX, a newly approved CFTC registered entity: “Days after the CFTC and Department of Justice (DOJ) dropped their investigations without explanation, the […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with Better Markets’ new Fact Sheet, “SPACs + Crypto = Buyer Beware”: “The financial industry wants to make it clear that SPACs are back. But investors should be extremely wary of their return. SPACs, or special purpose acquisition companies, […]
Read More
WASHINGTON, D.C. — A new report released today by Better Markets exposes the sweeping scope of consumer financial protections that have been dismantled under the second Trump Administration, resulting in the loss of billions of dollars in savings and essential safeguards for American families. The report, The Demise of Consumer Financial Protection Regulations under Trump’s […]
Read More
WASHINGTON, D.C. — Cantrell Dumas, Director of Derivatives Policy at Better Markets, issued the following statement in connection with the release of a new fact sheet warning that Washington is once again laying the groundwork for the next financial crisis: “A dangerous wave of deregulation is once again gaining momentum in Washington. Policymakers, lobbyists, and […]
Read More
WASHINGTON, D.C.— Statement from Amanda Fischer, Policy Director and COO of Better Markets, on today’s passage of the GENIUS Act (S.1582). and CLARITY Act (H.R. 3633): “When the next financial crisis happens, I fear that we’ll all look back on today’s actions in Congress as a key catalyst. The GENIUS Act increases our financial system’s […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with Better Markets’ new Fact Sheet, “Crypto Lending Poses Huge Risks for Retail Investors”: “Three years ago this week, crypto lender Celsius Network filed for bankruptcy. Despite promising investors huge interest payments, Celsius’s investments went bad in the […]
Read More
WASHINGTON, D.C.— Today, Dennis Kelleher, Co-Founder, President and CEO of Better Markets testified before the U.S. House of Representatives Committee on Financial Services at a hearing entitled “Dodd-Frank Turns 15: Lessons Learned and the Road Ahead.” In his testimony, Kelleher discussed lessons learned and not learned from the Dodd-Frank Wall Street Reform Law, the decades […]
Read More
WASHINGTON, D.C.— It’s “Crypto Week” on the Hill, and the cryptocurrency industry is pushing again for a light-touch framework for crypto trading. However, the only thing truly light-touch is how little Main Street Americans appear to trust the industry, despite crypto’s best efforts to juice polls and fudge claims of broad support. The fact is, […]
Read More
WASHINGTON, D.C.—Dennis Kelleher, Cofounder, President, and CEO of Better Markets, issued the following statement on the Circuit Court for the District of Columbia’s recent decision in Institutional Shareholder Services, Inc. v. SEC, No. 24-CV-5105 (D.C. Cir.), a lawsuit challenging a rule from the Trump administration’s first term that made it harder for proxy advisory firms […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement about a comment letter filed in connection with the U.S. Treasury’s implementation of the Trump Administration’s Executive Order, “Modernizing Payments To and From America’s Bank Account: “Most payments flowing to and from America’s bank account are made electronically, including about 96% of Treasury-disbursed […]
Read More
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and CEO, issued the following statement on the Federal Reserve’s (Fed) release of the 2025 stress test results: “Today’s announcement of yet another year when 100% of largest U.S. banks passed the Fed’s annual stress tests should alarm, not comfort, every American. This marks the 11th year in a […]
Read More
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and CEO of Better Markets, issued the following statement on the Federal Deposit Insurance Corporation (FDIC) Board’s support for proposed changes to the enhanced supplementary leverage ratio capital requirement: “Letting ideology, Wall Street’s CEOs, and the industry’s special interests drive decisions, rather than facts, merit, and the public interest, […]
Read More
WASHINGTON, D.C. — Cantrell Dumas, Director of Derivatives Policy at Better Markets, issued the following statement in connection with the release of a new fact sheet warning about the economic and retail dangers of introducing perpetual futures into U.S. financial markets: “Perpetual futures are a dangerous financial product that has no place in regulated U.S. […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with today’s filing of a comment letter to the Office of the Comptroller of the Currency (“OCC”) on community bank digitization: “Community banks are a vital component of the U.S. banking landscape. Unlike megabanks that operate thousands of branches across multiple states and […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Better Markets’ Director of Securities Policy, issued the following statement on today’s filing of Better Markets’ comment letter to the SEC in connection with today’s roundtable on executive compensation disclosure requirements: “Executive compensation disclosure requirements are essential because they lay bare the disparity between the pay of senior executives and the pay […]
Read More
WASHINGTON, D.C. — Carolyn Davis has joined Better Markets as Director of Communications. She was most recently the Director of External Communications at Leadership for Educational Equity (LEE) and brings more than a decade of advocacy and communications experience as well as a broad policy research background to Better Markets. She will oversee the organization’s strategic […]
Read More
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and CEO, issued the following statement on a meeting of the Federal Reserve’s (Fed) Board of Governors regarding proposed changes to the enhanced supplementary leverage ratio capital requirement: “The only thing standing between a failing bank, a financial crisis, a taxpayer bailout, and economic and human catastrophe is the […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Better Markets’ Director of Securities Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “The Cost of Noncompliance with Financial Regulation”: “Almost 25 years ago, the collapse of Enron and WorldCom in a series of accounting scandals rocked the economy. Those scandals cost investors billions of dollars and […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with today’s filing of a comment letter to the Federal Reserve (“Fed”) on proposed modifications to its stress test framework. “The only thing standing between a failing bank, a financial crisis, a taxpayer bailout, and economic and human catastrophe is bank […]
Read More
WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President, and CEO of Better Markets, issued the following statement on the announcement by the Senate Banking Democrats on the Digital Assets Subcommittee naming Russ Behnam as their witness at a hearing tomorrow: “Senate Banking Democrats on the Digital Assets Subcommittee just announced that their witness at a hearing tomorrow is […]
Read More
WASHINGTON, D.C. — Cantrell Dumas, Director of Derivatives Policy at Better Markets, issued the following statement upon the release of a new fact sheet analyzing the Senate Agriculture Committee’s confirmation hearing for Brian Quintenz, President Trump’s nominee to serve as Chair of the Commodity Futures Trading Commission (CFTC): “The CFTC usually does not make headlines, […]
Read More
WASHINGTON, D.C. – Thursday, June 19th marks Juneteenth, a federal holiday recognized in 2021 to commemorate the effective end of slavery in the United States. Economic inclusion remains essential to ensuring that communities of color have the opportunity to thrive. Better Markets has released a Fact Sheet describing how discrimination and limited access to financial services […]
Read More
WASHINGTON, D.C.— Amanda Fischer, Policy Director and Chief Operating Officer (COO) for Better Markets, issued the following statement on today’s Senate passage of the GENIUS Act (S.394): “Today’s passage of the GENIUS Act in the Senate puts consumers, investors and the economy at risk. Stablecoins are not the ‘future of payments.’ They instead represent an […]
Read More
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with the SEC withdrawing 14 proposed rules: “Last Thursday, the SEC withdrew 14 rules that it had previously proposed in furtherance of its mission to protect investors. These rules ranged from regulations that would have ensured investors receive the best prices when […]
Read More
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with today’s filing of a comment letter to the Office of the Comptroller of the Currency (OCC) in response to its Interim Final Rule on bank merger oversight: “The OCC’s changes to its merger policy prioritize the interests of the banking […]
Read More
