WASHINGTON, D.C.— Dennis Kelleher, President, CEO and Co-founder of Better Markets, issued the following statement ahead of this week’s Senate Banking Committee vote on Governor Michelle Bowman’s nomination to become Vice Chair for Supervision of the Board of Governors of the Federal Reserve System (“Fed”). “Trump has nominated Fed Gov. Michelle Bowman to become one of […]
WASHINGTON, D.C. — Brady Williams, Legal Counsel, issued the following statement in connection with the recently filed motion in Cornerstone Credit Union League et al v. CFPB, No. 4:25-cv-00016 (E.D. Tex.), which asked a federal court to vacate the CFPB’s long-awaited rule addressing medical debt on credit reports: “The CFPB today sided against consumers by joining […]
WASHINGTON, D.C.—Amanda Fischer, Policy Director and Chief Operating Officer, issued the following statement in connection with Better Markets’ new Fact Sheet, “The Dangers of Folding the PCAOB Into the SEC.” “Congress’s proposal to abolish the Public Company Accounting Oversight Board (PCAOB) and fold it into the Securities and Exchange Commission (SEC) is dangerous and misguided. […]
WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement in connection with Trump’s first 100 days and the release of a new Report: “Trump’s Wall Street Deregulation on Steroids is Going to Cause a Horrific Economic Crash on Main Street.” “While the financial industry claims it’s overregulated and that regulations are just […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Proxy Advisory Firms Allow Shareholders to Effectively Oversee the Companies They Own”: “Tomorrow, Congress will hold a hearing that appears designed to attack proxy advisory firms. But the fact is that these firms are essential to […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Report, “ESG Investing Persists”: “Earth Day 2025 is a sad occasion for investors. The SEC, in the last few months, has turned its back on investors by retreating from several initiatives designed to give them information about how […]
WASHINGTON, D.C. — Amanda Fischer, Policy Director and COO, issued the following statement in connection with Better Markets’ new Fact Sheet entitled, “On Earth Day, the Need to Address Climate-Related Financial Risks is More Urgent Than Ever:” “No matter how much policymakers try to minimize, disregard, or ignore it, catastrophic climate risk remains an enormous […]
WASHINGTON, D.C.— Cantrell Dumas, Director of Derivatives Policy, issued the following statement in connection with the release of Better Markets’ new Fact Sheet, “Origins of the CFTC: Protecting the Integrity of the Derivatives Markets.” “As the Commodity Futures Trading Commission (CFTC) commemorates its 50th anniversary, it’s a moment to acknowledge the agency’s critical role in […]
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with the Federal Reserve’s and Office of the Comptroller of the Currency’s approval of Capital One Financial Corporation’s (“Capital One”) to acquire Discover Bank and Discover Financial Services (“Discover”), which will result in the largest credit card company and the 6th largest […]
WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with the release of a new Report: “Community Banks: Vital to Main Street Families, Small Businesses, and the Financial System.” “Community banks are vital to Main Street America, providing a safe place for families and small businesses to safeguard and grow wealth and […]
WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement regarding the unlawful firing of two Board Members of the National Credit Union Administration (NCUA)—Todd Harper and Tanya Otsuka. “Credit unions are vital to Main Street families, small businesses, communities, and the economy. The Trump Administration’s decision to illegally fire two of the […]
Washington, D.C.—Today, Better Markets announced the formation of its inaugural Academic Advisory Board. The new initiative will serve as a platform for leading scholars focused on economics, law, finance, and financial regulation, and enable collaboration across the range of related issues facing the country. The Better Markets Academic Advisory Board (BMAAB) will foster a dynamic […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to a proposed rule change filed by Cboe BZX Exchange, Inc., to list and trade shares of the BondBloxx Private Credit Trust: “A private credit exchange-traded product […]
WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement on a Comment Letter to the Federal Deposit Insurance Corporation (FDIC) on the proposed rescission of the 2024 Statement of Policy on Bank Merger Transactions. “In 2024, after years of prudent, judicious, and appropriate analysis, the FDIC implemented a policy (2024 policy) that strengthened […]
WASHINGTON, D.C.—Amanda Fischer, Policy Director and Chief Operating Officer (COO), issued the following statement on the release of a fact sheet detailing the impacts and potential impacts of the Trump administration’s chaotic tariff policy on financial and consumer markets: “The U.S. financial markets are the envy of the world, and the trust and confidence that […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to a proposal to reduce the amount of customer information collected and retained in the consolidated audit trail (CAT): “The importance of a consolidated audit trail that […]
WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement after the Senate confirmed Paul Atkins to be Chair of the Securities and Exchange Commission (SEC): “As the U.S. financial markets experience extreme stress and volatility due to erratic policy announcements by the President, the American people need an independent SEC Chair who […]
WASHINGTON, D.C.— Benjamin Schiffrin, Director of Securities Policy, issued the following statement after the Securities and Exchange Commission (SEC) approved proposed rule changes filed by national securities exchanges to list and trade options on spot ether exchange-traded products (“ETPs”): “Ether is volatile, and approving options trading on an ETP with such a volatile underlying asset […]
WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Ten Reasons that Michelle Bowman Is the Wrong Choice to Lead Bank Regulation and Supervision at the Fed,” ahead of Federal Reserve (Fed) Governor Michelle Bowman’s nomination hearing for the position of Federal Reserve Board Vice […]
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on the filing of an amicus brief, led by the National Fair Housing Alliance and joined by Better Markets and other consumer advocacy groups, in CFPB v. Townstone Financial, Inc., No. 1:20-cv-04176 (N.D. Ill.): “The new leadership at the CFPB is attempting to […]
WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement regarding the Senate Banking Committee’s advancement of the nominations of Paul Atkins to be Chair of the Securities and Exchange Commission (SEC) and Jonathan Gould to be the Comptroller at the Office of the Comptroller of the Currency (OCC). “The SEC and the […]
WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement on a Comment Letter sent to the House Financial Services Committee (Committee) responding to its “Make Community Banking Great Again” principles. “Community banks are vital to Main Street Americans, providing a safe place for families and small businesses to safeguard and grow wealth and […]
WASHINGTON, D.C.— Dennis Kelleher, President, CEO, and Co-founder, issued the following statement in response to the Office of the Comptroller of the Currency’s (OCC) announcement to withdraw from interagency guidance that held the largest banks accountable for managing climate-related financial risk. “The OCC’s decision to ignore well-known and very serious climate-related financial risk at the […]
WASHINGTON, D.C.— Brady Williams, Legal Counsel, issued the following statement on the deadline for submitting comments on the CFPB’s proposed interpretive rule on how the Electronic Fund Transfer Act (EFTA) and Regulation E would apply to new and emerging digital payment mechanisms. The proposal is now on hold because the Trump administration shut down virtually […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ letter to the House Financial Services Committee in response to the Committee’s request for feedback on ways to increase access to the public and private markets and facilitate capital formation: “The best way for policymakers to facilitate real capital […]
WASHINGTON, D.C.— Dennis Kelleher, President, CEO, and Co-founder, issued the following statement in response to yet another Friday announcement by the Federal Reserve, FDIC, and OCC (‘Banking Agencies’), this time to withdraw the rule that modernized the 1977 Community Reinvestment Act (CRA). “Working Americans have been hammered by inflation, income stagnation, wealth deprivation, and an […]
WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement in response to the SEC’s vote to end the defense of the climate disclosure rules in the Court of Appeals for the Eighth Circuit: “The SEC’s vote today to stop defending the climate disclosure rule in court is only the latest anti-investor, anti-disclosure, […]
WASHINGTON, D.C. – Better Markets sent a letter urging Senate Minority Leader Chuck Schumer and Senate Agriculture Committee Ranking Member Amy Klobuchar to insist on bipartisan independent commissions, including at the Commodity Futures Trading Commission (CFTC). This is particularly important in light of the illegal firings of Democratic Commissioners at the Federal Trade Commission (FTC) […]
WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Five Key Questions to Ask Trump’s Comptroller of the Currency Nominee” ahead of nominee Jonathan Gould’s confirmation hearing before the Senate Banking Committee this Thursday: “The Office of the Comptroller of the Currency (OCC) supervises and […]
WASHINGTON, D.C. — Brady Williams, Legal Counsel, issued the following statement on a new Fact Sheet highlighting the vital and irreplaceable role of the Consumer Financial Protection Bureau (CFPB) in protecting American consumers ahead of a Congressional hearing on the agency set for tomorrow: “The CFPB has an outstanding track record of protecting Americans from […]
WASHINGTON, D.C.—Dennis M. Kelleher, Co-founder, President, and CEO, issued the following statement in connection with Better Markets’ new Fact Sheet, “SEC Chair Nominee Paul Atkins Must Answer for His Anti-SEC Record” ahead of Atkins’ confirmation hearing before the Senate Banking Committee this Thursday: “Paul Atkins, President Trump’s nominee to be the Chair of the Securities […]
WASHINGTON, D.C.— Cantrell Dumas, Director of Derivatives Policy, issued the following statement in connection with a Fact Sheet on Consumer Protection Position Limits, ahead of the House Agriculture Committee hearing titled “The CFTC at 50: Examining the Past and Future of Commodity Markets”: “As the Commodity Futures Trading Commission (CFTC) celebrates its 50th anniversary, it’s […]
WASHINGTON, D.C. – Dennis M. Kelleher, Cofounder, President and CEO, issued the following statement in connection with the closed-door meeting of the Financial Stability Oversight Council (Stability Council) taking place tomorrow: “The Financial Stability Oversight Council (Stability Council) is one of the most important, if low profile, financial regulatory agencies charged with protecting the country from […]
WASHINGTON, D.C. – Dennis M. Kelleher, Cofounder, President, and CEO, issued the following statement in connection with President Trump’s reported firing of the Democratic Commissioners of the Federal Trade Commission (FTC): “Trump’s lawless firing of the Democratic Commissioners at the FTC will convert it from an independent agency into a politicized rubber stamp of the […]
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on the filing of an amicus brief supporting the Securities and Exchange Commission (SEC) in yet another industry challenge to an important SEC rule, which reduces pricing increments and limits certain fees that stock exchanges can charge: “This rule improves the way securities […]
WASHINGTON, D.C.—Better Markets is pleased to announce that Phillip Basil has joined the organization as Director of Economic Growth and Financial Stability, a newly created position. Basil was most recently a Financial Institution Policy Specialist at the Federal Reserve Board and previously served as Executive Director within Model Risk for JP Morgan Chase. He also […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Having Won Almost 100% of Its Cases Against the Crypto Industry, the SEC Baselessly Surrenders”: “The SEC has won almost 100% of its cases against the crypto industry because in most cases the crypto industry is […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, and Cantrell Dumas, Director of Derivatives Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “An SEC-CFTC Merger Would Not Save Money and Would Endanger Main Street Families”: “With DOGE intent on dismantling federal agencies, its supporters are reviving an old idea: merging the […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Facebook’s Libra Stablecoin Warning for Any Stablecoin Legislation,” released ahead of a House Financial Services Committee hearing entitled “Navigating the Digital Payments Ecosystem: Examining a Federal Framework for Payment Stablecoins and Consequences of a U.S. Central […]
WASHINGTON, D.C.— Brady Williams, Legal Counsel, issued the following statement on the deadline for submitting comments on the CFPB’s Advanced Notice of Proposed Rulemaking on the Fair Credit Reporting Act; Identity Theft and Coerced Debt. The proposal is now on hold because the Trump administration shut down all rulemaking at the CFPB: “Last year, in […]
WASHINGTON, D.C.— Better Markets is pleased to announce that Lisa Gilbert, Co-President of Public Citizen, has joined the Better Markets Board of Directors. “Lisa has spent her career promoting the public interest and fighting for an economy that serves the American people, creates jobs, and supports small businesses and community banks,” said Dennis Kelleher, Co-Founder, […]
WASHINGTON, D.C.— Shayna Olesiuk is the Director of Banking Policy, issued the following statement in connection with the release of a new Report: “Report: Two Years After the 2023 Banking Crisis, Main Street is Still in Danger.” “Two years ago, Silicon Valley Bank, Signature Bank, and First Republic Bank failed, caused a banking crisis, and got […]
WASHINGTON, D.C.— Dennis Kelleher, President, CEO, and Co-founder, issued the following statement in response to President Trump’s Acting FDIC Chair Travis Hill and the FDIC Board’s irresponsible action to dismantle six rules that protect Main Street Americans and the banking system. “For more than 90 years, the FDIC has been the gold standard in protecting […]
WASHINGTON, D.C.—Better Markets is pleased to announce that Amanda Fischer has joined the organization as Policy Director and Chief Operating Officer (COO). Fischer was most recently the Chief of Staff to the Chairman of the Securities and Exchange Commission (SEC) and previously served in several positions in the Senate and the House. She will oversee […]
WASHINGTON, D.C.— Brady Williams, Legal Counsel, issued the following statement on the deadline for submitting comments on the Data Broker Rule proposed by the Consumer Financial Protection Bureau (CFPB). The rule is now on hold because of the Trump administration’s halt on rulemaking: “All too often, shoddy data brokers sell our most sensitive personal information […]
WASHINGTON, D.C.—Brady Williams, Legal Counsel, issued the following statement in response to the news that the Consumer Financial Protection Bureau (CFPB) is dropping multiple enforcement lawsuits against companies that were accused of misconduct against consumers, including Capital One, Rocket Homes Real Estate, and a student loan lender. “Trump’s anti-consumer protection bureau dropping these cases is […]
WASHINGTON, D.C. – After a long and successful banking industry career, Camden Fine has joined Better Markets as a Senior Fellow. Fine brings decades of invaluable experience in banking and public policy. As the former President and CEO of the Independent Community Bankers of America (ICBA), he led the national association for more than 5,000 community […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Three Questions for Any (Un)Stablecoin Legislation,” released ahead of a Senate Banking Committee hearing entitled “Exploring Bipartisan Legislative Frameworks for Digital Assets”: “Today, Congress will hold a hearing dedicated to crypto, including so-called ‘stablecoins.’ But they […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “The SEC is Killing IPOs,” released ahead of a House Financial Services Committee hearing entitled “The Future of American Capital: Strengthening Public and Private Markets by Increasing Investor Access and Facilitating Capital Formation”: “Tomorrow, Congress will […]
WASHINGTON, D.C.— Cantrell Dumas, Director of Derivatives Policy, issued the following statement in connection with the news that the Commodity Futures Trading Commission (CFTC) fired some of its employees: “Many may see the firing of CFTC employees as just another round of federal job cuts. But the reality is that these terminations make it even […]
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