FOR IMMEDIATE RELEASE Monday, January 10, 2022 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 in response to the announced resignation of Federal Reserve’s Vice Chair Clarida: “Federal Reserve Vice Chair Richard Clarida’s conduct in seeking to personally profit […]
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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 […]
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FOR IMMEDIATE RELEASE Thursday, January 6, 2022 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 in connection with the New York Times story today about Federal Reserve’s Vice Chair Clarida’s amended trading disclosure: “The New York Times’ explosive story […]
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FOR IMMEDIATE RELEASE Tuesday, December 28, 2021 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 Securities and Exchange Commission regarding its proposal to rescind Trump-era requirements that unnecessarily burden proxy advisory firms: “We support […]
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FOR IMMEDIATE RELEASE Wednesday, December 15, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Stephen Hall, Better Markets’ Legal Director and Securities Specialist, released the following statement on the filing of a comment letter to the U.S. Securities and Exchange Commission in support of a proposed rule that will enhance transparency in the way […]
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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 […]
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FOR IMMEDIATE RELEASE Tuesday, December 14, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Better Markets Legal Director and Securities Specialist Stephen Hall released the following statement on the filing of Better Markets’ response to the Department of Labor’s proposed rule that would amend several provisions of the agency’s Investment Duties regulation: “Better Markets […]
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FOR IMMEDIATE RELEASE Thursday, December 9, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement on today’s action by the FDIC to issue a request for information from the public regarding its bank merger policies: “We applaud the FDIC […]
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FOR IMMEDIATE RELEASE Thursday, December 9, 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 district court’s decision in In re Goldman Sachs Group, Inc. Securities Litigation, issued yesterday and in line with our amicus brief filed […]
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FOR IMMEDIATE RELEASE Thursday, December 9, 2021 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 release of a new Better Markets report, How Can the SEC Address Racial Economic Inequality Through Regulation of the Securities Markets for All Americans? “In a […]
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FOR IMMEDIATE RELEASE Thursday, December 2, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement on the release of Better Markets’ new report, Addressing Racial Economic Inequality through the Banking System: “Generations of discrimination and mistreatment informed by racist beliefs, narratives, laws, […]
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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 […]
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WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the filing of Better Markets’s supplemental comment letter on recovery of erroneously awarded compensation: “We’re pleased that the SEC is poised to finalize an important rule that will require corporate executives to give back incentive-based compensation that they didn’t deserve. […]
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WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the release of Better Markets’ Fact Sheet on special purpose acquisition companies: “Special purpose acquisition companies, or SPACs, have become increasingly trendy of late, commanding an increasing amount of attention. They are basically public blank check companies formed to identify […]
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WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, released the following statement on a letter Better Markets filed with the Commodities Futures Trading Commission urging the agency to revisit and repair its rule on position limits: “The CFTC’s position limits rule, issued in January this year, was far too weak and the agency must move […]
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Reported Merger Threatens to Further Consolidate CME Group Inc.’s Near-Monopoly and Increase Lack of Competition in Derivatives Markets WASHINGTON— Better Markets and the Open Markets Institute released the following statement concerning their joint letter to antitrust and financial regulators raising serious concerns about the CME Group’s (CME) near-monopoly in derivatives markets – by some measures […]
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FOR IMMEDIATE RELEASE Tuesday, November 2, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Today, Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement regarding the publication of our new report, Climate Change and the Banking System: “As world governments debate national commitments to address the global climate change […]
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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 […]
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WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the oral argument scheduled for Monday, October 25, 2021 before the D.C. Circuit in Citadel Securities LLC v. SEC: “Our securities markets are rigged in favor of Wall Street at the expense of everyday retail investors. A handful of high-frequency […]
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FOR IMMEDIATE RELEASE Sunday, October 24, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement in response to Treasury Secretary Janet Yellen’s defense of Federal Reserve Chair Jay Powell’s deregulation record: “Treasury Secretary Janet Yellen was dead wrong in […]
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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 […]
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WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement regarding the Federal Reserve’s announced new trading policies: “The changes announced today by the Federal Reserve are long overdue and a good start, but don’t go far enough. First, the policies must be broader and apply to […]
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WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement regarding the revelations that Federal Reserve Chair Jay Powell traded during the pandemic in 2020: “It was reported yesterday that the most senior leader of the U.S. central bank, Federal Reserve Chair Jay Powell, had substantial personal […]
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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 […]
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FOR IMMEDIATE RELEASE Friday, October 8, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Phillip Basil, Better Markets Director of Banking Policy, released the following statement on a new report, The Agenda for the Fed’s Next Vice Chair for Supervision: “When the term of Federal Reserve Vice Chair for Supervision Randal Quarles expires on […]
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WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, released the following statement in response to the SEC investigation of Federal Reserve leaders’ trading during the pandemic and confirmation of applicability of insider trading laws to those in government: “As SEC Chairman Gensler testified at the House Financial Services Committee (quoted […]
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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 […]
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The American People Deserve to Know if Laws Were Broken WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, released the following statement on reporting that the Fed is working with the Office of Inspector General in its review of trades made by senior central bank officials during the pandemic: “We welcome […]
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The Pandemic Trading Violated Clear Fed Policies and the Fed Must Tell The American People Who Else Traded During the Pandemic WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with a letter he sent to Federal Reserve Chairman Powell: “The Federal Reserve appears to […]
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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 […]
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Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding today’s announcement of Dan Berkovitz as General Counsel of the U.S. Securities and Exchange Commission (“SEC”): “Dan Berkovitz, the SEC next General Counsel, is highly qualified for this position given his decades of varied experience. His […]
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WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in response to statements made by Chairman Jay Powell during testimony to the Senate today: “Federal Reserve Chair Powell’s responses and non-responses today to Senator Warren’s laudable line of questioning on his dangerous and irresponsible deregulations were misleading, […]
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Chair Powell Must End the Cover Up and Come Clean With The American People: Disclose Everyone At The Fed Who Engaged in Pandemic Profiteering Trading WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with the announcement that Boston Fed President Eric Rosengren is retiring […]
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FOR IMMEDIATE RELEASE Wednesday, September 22, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with the press conference today by the Chairman of the Federal Reserve: Chairman Powell’s answers and non-answers at today’s press conference regarding […]
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FOR IMMEDIATE RELEASE Wednesday, September 22, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following questions that should be asked of the Chairman of the Federal Reserve, Jay Powell, regarding the trading scandal engulfing the central banks: Has the trading […]
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FOR IMMEDIATE RELEASE Tuesday, September 21, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with a letter Better Markets sent to the Chairman of the Federal Reserve, Jay Powell, regarding the termination of Fed Presidents who […]
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FOR IMMEDIATE RELEASE Monday, September 20, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with a letter Better Markets sent to the Chairman of the Federal Reserve, Jay Powell, regarding the trading by senior Fed officials […]
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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. […]
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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 […]
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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 […]
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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 […]
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FOR IMMEDIATE RELEASE Wednesday, August 11, 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 the filing of a comment letter to the Federal Reserve Board on proposed clarifications to its debit card transaction policy, Regulation II: Today Better Markets filed […]
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FOR IMMEDIATE RELEASE Monday, August 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 in response to the Federal Reserve’s release of stress capital buffer requirements for the largest banks on August 5, 2021: “The Federal Reserve’s recently released stressed capital […]
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FOR IMMEDIATE RELEASE Monday, August 2, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy for Better Markets, released the following statement on the filing of a comment letter to the Federal Reserve Board on proposed changes to their Payment System Risk policy: “Today Better Markets filed a comment […]
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FOR IMMEDIATE RELEASE Friday, July 30, 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 announcing the release of a special report recapping the U.S. Supreme Court’s 2020-2021 session and highlighting the impact the Court has on the economic […]
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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 […]
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FOR IMMEDIATE RELEASE Wednesday, July 15, 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 in response to the testimony today of the Chairman of the Federal Reserve, Jay Powell, before the Senate Banking Committee: “Federal Reserve Chairman Jay Powell’s […]
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FOR IMMEDIATE RELEASE Tuesday, June 30, 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 in advance of the effectiveness of the net stable funding ratio (NSFR) liquidity rule tomorrow: “A lack of liquidity, meaning readily available cash to meet […]
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FOR IMMEDIATE RELEASE Thursday, June 24, 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 in response to the Federal Reserve’s (Fed) announcement today of the results of the 2021 stress tests: “The Fed’s so-called stress tests no longer stress […]
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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”): […]
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