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Category: Press Releases

Credit Suisse’s Deterioration Highlights the Failure of the Federal Reserve to Properly Regulate Foreign Banks Operating in the US

WASHINGTON, D.C.—Dennis Kelleher, President and CEO of Better Markets, issued the following statement upon the significant deterioration of the financial condition of Credit Suisse that has brought it close to failure: “As the financial condition of Credit Suisse continues to deteriorate, raising questions of whether it will collapse, the world and U.S. taxpayers should be […]

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When the Federal Reserve Fails, The Public Pays the Price; Its Late Friday Announcement Passing Truist’s Deficient Living Will Is a Disservice to the American People

WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President and CEO of Better Markets, issued the following statement on the Federal Reserve’s late Friday announcement that (1) it passed Truist’s living will, and (2) it is going to issue guidance on its expectations for living wills for banks greater than $250 billion but are not systemically important: “Continuing […]

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Federal Reserve’s Climate Scenario Analysis Is a Welcome First Step in Addressing Climate Risks but Must Have Supervisory Consequences

WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement on the Federal Reserve’s announcement of a “pilot” climate scenario analysis exercise for 2023: “The Federal Reserve’s official announcement of its plan to conduct climate scenario analysis for the nation’s six largest, most complex, most dangerous financial institutions is a welcome […]

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Better Markets Supreme Court Report Shows Decisions Affect Americans’ Wallets and Threaten Financial Protection Rules

WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, released the following statement on the publication of a new Better Markets report, The Supreme Court’s Decisions That Affect Americans’ Financial Lives & The Growing Threat to the Administrative State: “The Supreme Court decides cases every year that have a profound impact on the economic and financial […]

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The CFTC Should Protect Democracy, Markets, and Investors by Rejecting Request to Allow Gambling on Elections

WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President and CEO, released the following statement in connection with Better Markets’ comment letter filed with the Commodities Futures Trading Commission (“CFTC”) regarding a request for approval of a proposed gaming contract. “KalshiEX, LLC (‘Kalshi’) has asked the CFTC to allow traders to gamble on the outcome of congressional elections […]

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Federal Reserve Vice Chair for Supervision Michael Barr Has the Right Goals, Priorities and Agenda for a Safer and Fairer Financial System

WASHINGTON, D.C.—Dennis Kelleher, President and CEO of Better Markets, released a letter sent today to Federal Reserve Board’s Vice Chair for Supervision Michael S. Barr in connection with his first speech: “Federal Reserve Vice Chair for Supervision Michael Barr has the right goals, priorities, and agenda, as we detailed in a letter to him today.  […]

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President Biden’s Framework for Digital Assets Properly Prioritizes Protecting the American People from the Many Known, Costly, and Potentially Catastrophic Risks

Public officials must ensure digital assets in fact enable wealth creation for the many, not yet more wealth extraction for the few   WASHINGTON, D.C.—Dennis Kelleher, President and CEO of Better Markets, issued the following statement in connection with the release of President Biden’s Comprehensive Framework for Responsible Development of Digital Assets (“Framework”): “President Biden’s […]

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Houston Shaner Joins Better Markets as Senior Counsel

WASHINGTON, D.C.— Houston Shaner has joined Better Markets as Senior Counsel. Shaner brings extensive experience working on regulatory matters, administrative law, and litigation to the Better Markets legal team. “Houston brings eight years of excellent legal experience and a nuanced understanding of the legal process and how it impacts policymaking and regulatory issues,” said Better […]

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Government Affairs and Marine Corps Veteran Travis Horr Joins Better Markets as Director of External Affairs

WASHINGTON, D.C.— Travis Horr has joined Better Markets as Director of External Affairs. Bringing his experiences in government affairs, Capitol Hill advocacy, and the Marine Corps, he will serve as Better Markets’ primary point of contact with Congress, the administration, allies, fellow advocates and organizations, industry representatives, and other organizations and people involved in economic […]

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Federal Reserve’s Vice Chair for Supervision Outlines Values-Based Agenda to Protect Financial Consumers and Stability While Promoting Innovation & Economic Growth

WASHINGTON, D.C.—Dennis Kelleher, President and CEO of Better Markets, issued the following statement after the Federal Reserve Board’s Vice Chair for Supervision Michael S. Barr gave his first speech since being sworn into office. Better Markets released a detailed agenda for the incoming Vice Chair upon his confirmation by the Senate in July. “Michael Barr, […]

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