FOR IMMEDIATE RELEASE Wednesday, May 6, 2020 Contact: Pamela Russell, 202-618-6433 or [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement on Better Markets’ comment letter calling on bank regulators to strengthen, not weaken, limits on capital distributions via dividends and executive bonuses during the […]
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FOR IMMEDIATE RELEASE Monday, May 4, 2020 Contact: [email protected] WASHINGTON, D.C.—Better Markets has joined with #GivingTuesdayNow to raise awareness and grow support for its fight to build a strong, inclusive economy fueled by a safer, sounder financial system that serves all Americans, creates jobs and economic growth, rebuilds the middle class, reduces inequality, and makes the […]
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FOR IMMEDIATE RELEASE Tuesday, April 28, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to recent trading activities in the oil markets: “We applaud the Commodity Futures Trading Commission (CFTC) for announcing an investigation into the unprecedented disruption of […]
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FOR IMMEDIATE RELEASE Monday, April 27, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement as Better Markets issues a fact sheet detailing the conflicts of interest that inflate credit ratings and sow the seeds for investor harm and financial turmoil. […]
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FOR IMMEDIATE RELEASE Thursday, April 23, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the Federal Reserve’s announced commitment to transparency regarding CARES Act programs and activities: “We have stressed to the Federal Reserve (Fed) that transparency must […]
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FOR IMMEDIATE RELEASE Wednesday, April 22, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to recent trading activities in the oil markets: “Something is fundamentally wrong in the oil derivatives markets when—for the first time in history—an oil futures […]
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FOR IMMEDIATE RELEASE Tuesday, April 21, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis M. Kelleher, President and CEO of Better Markets, announced the launch of a public resource that will track and monitor all of the emergency actions taken by financial regulators in response to the coronavirus crisis. TRACERTM stands for “Tracker of Regulatory Agencies Coronavirus Emergency Responses,” and it will track every […]
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FOR IMMEDIATE RELEASE Friday, April 17, 2020 Contact: Pamela Russell, 202-618-6433 [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement about the amicus brief filed today in the U.S. Supreme Court by Better Markets and the Americans for Financial Reform Education Fund (“AFREF”) in Atlantic […]
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FOR IMMEDIATE RELEASE Monday, April 13, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued the following statement regarding the covered funds exclusions from the Volcker Rule ban on proprietary trading proposed by the Board of Governors of the Federal Reserve System, the Office of the […]
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FOR IMMEDIATE RELEASE Wednesday, April 8, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued the following statement in response to the Federal Reserve’s announcement today giving Wells Fargo temporary, targeted and conditional relief from the asset cap to enable the bank to help its customers […]
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FOR IMMEDIATE RELEASE Wednesday, April 8, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued the following statement regarding the Securities and Exchange Commission’s (SEC) re-proposal of the 2015 rulemaking relating to the use of derivatives by funds: “Derivatives were at the core of igniting and spreading […]
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FOR IMMEDIATE RELEASE Tuesday, April 7, 2020 Contact: Pamela Russell, 202-618-6430 or [email protected] WASHINGTON, D.C. – Pamela Russell has joined Better Markets as its Director of Communications and Public Relations. Better Markets is a Washington, D.C.-based independent, nonprofit, nonpartisan organization that promotes the public interest in the domestic and global financial markets. Pamela will be responsible […]
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FOR IMMEDIATE RELEASE March 31, 2020 Contact: Pamela Russell at [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding Wells Fargo’s reported request that the Federal Reserve lift the asset cap it imposed due to the bank’s decade of customer exploitation and extensive controls […]
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FOR IMMEDIATE RELEASE March 24, 2020 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the need for the Federal Reserve to order banks with assets greater than $100 billion to stop all capital distributions and to revoke two counterproductive rule changes enacted […]
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FOR IMMEDIATE RELEASE Wednesday, March 18, 2020 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the quickest way to help Main Street families facing coronavirus-related layoffs and loss of paychecks: “More than half of all jobs in the U.S., nearly 80 million, […]
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FOR IMMEDIATE RELEASE Sunday, March 15, 2020 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to reports that the Trump administration is considering weakening key financial rules put in place to protect taxpayers and prevent bailouts of Wall Street’s financial firms […]
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FOR IMMEDIATE RELEASE March 11, 2020 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding President Trump’s meeting today with the CEOs of Wall Street’s biggest banks and their lobbyists trade groups: “The first topic of discussion among the CEOs of Wall Street’s […]
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FOR IMMEDIATE RELEASE March 10, 2020 Contact: [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding President Trump’s meeting tomorrow with the CEOs of Wall Street’s biggest banks and their lobbyists trade groups: “In light of the risks posed by the coronavirus crisis, President Trump […]
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FOR IMMEDIATE RELEASE Wednesday, March 4, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Federal Reserve Board’s finalizing a rule regarding the stress capital buffer and related matters: “The only thing that stands between a failing bank and a […]
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FOR IMMEDIATE RELEASE Wednesday, March 4, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Joseph Cisewski, Senior Derivatives Consultant and Special Counsel at Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) proposed reconsideration of 2016 capital regulations applicable to certain swap dealers (SDs) and others: “SD capital requirements are among the […]
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FOR IMMEDIATE RELEASE Tuesday, March 3, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) proposed prohibition of an anti-competitive and anti-market trading practice, called post-trade name give-up: “The four biggest Wall Street banks are also […]
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FOR IMMEDIATE RELEASE Tuesday, March 3, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement as the Supreme Court hears oral argument in Liu v. SEC, a case that will determine whether the Securities and Exchange Commission (“SEC”) can still seek to […]
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FOR IMMEDIATE RELEASE Monday, March 2, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to the Bank Policy Institute’s request for “Actions the Fed Could Take in Response to COVID-19”: “It is shameless but not surprising, that Wall Street’s […]
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FOR IMMEDIATE RELEASE Friday, February 28, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to numerous inquiries regarding the current market conditions and correction: “While we don’t usually comment on market conditions, numerous inquiries have prompted us to make this […]
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FOR IMMEDIATE RELEASE Monday, February 24, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Better Markets today announced that Ed Silverman, former staff director of the Senate Banking Committee, is joining Better Markets as a Senior Fellow. Silverman is the latest high-profile hire for Better Markets. Tim Clark, a 23-year veteran of the Federal Reserve, joined in October […]
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FOR IMMEDIATE RELEASE Friday, February 21, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the settlement announced today among the Department of Justice, the Securities and Exchange Commission and Wells Fargo & Co.: “For more than a decade, Wells Fargo […]
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FOR IMMEDIATE RELEASE Thursday, February 20, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and CEO of Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) proposed rule permitting significant delays in public reporting of derivatives trades: “Earlier today, the CFTC proposed substantial revisions to public trade reporting rules […]
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FOR IMMEDIATE RELEASE Tuesday, February 18, 2020 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Financial Reform Policy released today by presidential candidate Mike Bloomberg: “We welcome presidential candidate Mike Bloomberg’s financial reform policy released today. As we […]
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FOR IMMEDIATE RELEASE Tuesday, February 18, 2020 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor of Better Markets, issued the following statement regarding the Securities and Exchange Commission’s (SEC) recent proposal on market data: “We welcome the SEC’s proposal last Friday to expand the content and availability of certain […]
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FOR IMMEDIATE RELEASE Tuesday, February 18, 2020 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Joseph Cisewski, Senior Derivatives Consultant and Special Counsel for Better Markets, issued the following statement regarding the Commodity Futures Trading Commission’s (CFTC) scheduled meeting to propose significant delays in derivatives trade reporting: “In the darkest days of the 2008 meltdown, […]
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FOR IMMEDIATE RELEASE Monday, February 10, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the President’s proposed fiscal year 2021 budget for the Commodity Futures Trading Commission (CFTC): “Dangerous derivatives were at the core of causing and spreading the 2008 financial […]
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FOR IMMEDIATE RELEASE Tuesday, February 4, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor of Better Markets, issued the following statement regarding the Securities and Exchange Commission’s (SEC) proposals on proxy advice and shareholder proposals: “The SEC’s proposals regarding proxy firms and shareholder proposals will help entrench existing management and make […]
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FOR IMMEDIATE RELEASE Tuesday, February 4, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding the Federal Reserve’s permanent bar against a senior executive of Goldman Sachs for his actions in connection with 1MDB: “The Department of Justice labeled a Goldman […]
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FOR IMMEDIATE RELEASE Thursday, January 30, 2020 Contact: [email protected], 202-618-6433 Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the Commodity Futures Trading Commission’s (CFTC) newest proposal of a position limits rule: “The CFTC is required by law to prevent excess speculation in the derivatives […]
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FOR IMMEDIATE RELEASE Thursday, January 30, 2020 Contact: [email protected], 202-618-6433 Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the action taken by Board of Governors of the Federal Reserve (“Federal Reserve”), the Federal Deposit Insurance Corporation (“FDIC”), and the Commodities Futures Trading Commission (“CFTC”) […]
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FOR IMMEDIATE RELEASE Tuesday, January 28, 2020 Contact: [email protected] 202-618-6433 $874 Billion in Bailouts, 36 Legal Actions, $9.8 Billion in Fines and Settlements + 1MDB Fines Coming Washington, D.C. – On the eve of Goldman Sachs’ first investor day, Better Markets releases a RAP Sheet Report detailing two decades of illegal behavior by Goldman Sachs […]
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FOR IMMEDIATE RELEASE Thursday, January 23, 2020 Contact: 202-618-6433, [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement about the amicus brief filed in the Supreme Court by Better Markets, the Center for Responsible Lending, and the National Consumer Law Center, in Liu v. SEC on […]
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FOR IMMEDIATE RELEASE Friday, January 17, 2020 Contact: Christopher Elliott, 202-618-6433 [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to a speech by the Vice Chairman for Supervision for the Federal Reserve, Randal Quarles: “The Vice Chairman for Supervision at the Federal Reserve Board […]
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FOR IMMEDIATE RELEASE Thursday, January 16, 2020 Contact: Christopher Elliott, 202-618-6433 [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to the announced upcoming departure of SEC Commissioner Rob Jackson: “SEC Commissioner Rob Jackson knows that the financial industry’s agenda of using regulation and regulators […]
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FOR IMMEDIATE RELEASE Wednesday, January 8, 2020 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor, issued the following statement in response to the actions taken by the Securities and Exchange Commission (SEC) today at the meeting that approved on a party-line 3-2 vote a proposal regarding stock exchanges and […]
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FOR IMMEDIATE RELEASE Monday, January 6, 2020 Contact: Christopher Elliott, 202-618-6433 [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement about the amicus brief filed by Better Markets and the Consumer Federation of America (CFA) in support of a legal challenge to the SEC’s “Regulation […]
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FOR IMMEDIATE RELEASE Thursday, December 19, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the Commodity Futures Trading Commission’s (CFTC) proposed elimination of post-trade name give-up, a practice that for too long has enabled dealer domination of the […]
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FOR IMMEDIATE RELEASE Wednesday, December 18, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor at Better Markets, issued the following statement in response to the SEC’s regulatory actions: “Christmas came early for Wall Street today as the SEC opened a big bag of gifts for the financial industry […]
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FOR IMMEDIATE RELEASE Monday, December 9, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement after Better Markets called upon the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) to investigate allegations that dozens of fraudulent or […]
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FOR IMMEDIATE RELEASE Monday, December 9, 2019 Contact: Christopher Elliott, 202-618-6433, [email protected] Washington, D.C. – Dennis Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in connection with the death of Paul A. Volcker: “The passing of Paul Volcker is a tremendous loss for his family, friends and, indeed, the country. […]
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FOR IMMEDIATE RELEASE Tuesday, October 29, 2019 Contact: Christopher Elliott, 202-618-6433 Washington, D.C. – Dennis Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to reports that government ethics rules won’t prevent Eugene Scalia from participating in the Department of Labor’s re-write of a key investor protection rule: “On behalf of […]
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FOR IMMEDIATE RELEASE Tuesday, October 29, 2019 Contact: Christopher Elliott, 202-618-6433 Washington, D.C. – Dennis Kelleher, Chief Executive Officer of Better Markets, issued the following statement in response to the SEC’s proposed amendments to the national market system plan governing the Consolidated Audit Trail (CAT): “The Consolidated Audit Trail (CAT) promises to be a revolutionary […]
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FOR IMMEDIATE RELEASE Monday, October 28, 2019 Contact: Christopher Elliott, 202-618-6433 Washington, D.C. – Dennis M. Kelleher, Chief Executive Officer of Better Markets, issued the following statement with respect to the Office of the Comptroller, Federal Deposit Insurance Corporation, Farm Credit Administration, Federal Housing Finance Agency, and the Board of Governors of the Federal Reserve […]
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FOR IMMEDIATE RELEASE Monday, October 21, 2019 Contact: [email protected] or (202)618-6433 Washington, D.C. – Lev Bagramian, Senior Securities Policy Advisor of Better Markets, issued the following statement in advance of the Senate Banking Committee’s hearing on “Oversight of the Status of the Consolidated Audit Trail,” scheduled for Tuesday, October 22, 2019: The Senate Banking Committee, […]
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FOR IMMEDIATE RELEASE Friday, October 4, 2019 Contact: [email protected] or (202)618-6433 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 highlighting the powerful impact of the Supreme Court on the financial well-being of all Americans: “Our report reviews the […]
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