Defending Main Street
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Financial Reform and Stability
Preventing Financial Crashes and Economic Collapse While Protecting Your Pocketbook, Our Shared Prosperity and America’s Limited Resources
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Returning the Law to Wall Street While Watching the Watchdogs, Defending Democracy, Transparency and Open Government
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Supporting the productive economy, creating wealth and broad-based prosperity while reducing systemic threats, inequality and economic insecurity
“[Better Markets] first shot to fame during the 2008 global financial crisis when it became a thorn in the side of Wall Street and Washington regulators because it complained loudly—and correctly—about the follies of excessive financial deregulation. Since then, it has continued to scrutinize the more recondite details of US regulation, complaining, again rightly, that the rules have recently been watered down.”
“Dennis Kelleher and his team at Better Markets have consistently pushed for financial reform that will help protect the U.S. economy from another financial crash. They are strong partners in the fight to level the playing field for middle-class families and have been persistent fighters for the American people, their jobs, savings and retirements.”
“Better Markets has served as a valuable and important voice pushing for fairness in our financial system.”
“Dennis Kelleher over at Better Markets, a huge presence in Washington, DC. A nonprofit, of course, established to make finance and government serve society a little bit better.”
“Dennis Kelleher [is] one of the most powerful lobbyists on financial regulatory reform.”
“It's more important than ever that consumers and taxpayers have strong advocates like Dennis and Better Markets to stand up for ordinary Americans.”
“Kelleher, a former attorney at Skadden, Arps, Slate, Meagher & Flom, has become well-known for his critique of both Wall Street banks and regulators who he has often accused of failing to hold the banks accountable for wrongdoing.”
Shaping the news, amplifying the public’s voice and analyzing new policies so Main Street doesn’t get left behind.
Comment
Letters
Better Markets filed more than 450 Comment Letters at the financial regulatory agencies and self-regulatory organizations.
Rule
Citations
Better Markets was cited over 170 times in final rules, showcasing the impact our subject matter experts make on the rulemaking process.
Court
Filings
Better Markets argues for strong regulation, effective remedies for investors, and a rulemaking process that complies with the law.
Print
Articles
Better Markets subject matter experts are continually sought after to amplify the public’s voice and to analyze new policies so Main Street doesn’t get left behind.
Consumer debt is at a record high. At the same time, delinquency rates are rising for several types of loans which means that Main Street Americans are increasingly vulnerable to financial shocks.
The Federal Housing Finance Agency's (FHFA) has proposed to allow the Federal
Important story by the @Katherineli_ of @LeverNews on companies undermining rules that protect consumers and deter corruption. An important example cited in the story is pushback to the @SECGov's stock buyback disclosure rule. https://www.levernews.com/corporations-are-weaponizing-free-speech-to-wreck-the-world/
#Crypto was nowhere to be found on a recent @pewresearch survey of Americans' top priorities & concerns. Yet this week Congress has let the crypto industry hijack its agenda. Learn how #crypto has used lobbying, hundreds of millions in campaign cash, & the revolving door to make
Important coverage of the @SECGov's upcoming decision on spot #ether ETPs in #MorningMoney.
Our Benjamin Schiffrin explains what's at stake. https://www.politico.com/newsletters/morning-money
That 52 million number is incredibly misleading. Look at the @federalreserve annual survey and the analysis done by @BetterMarkets. Crypto industry is using a number that defies common sense to scare Members of Congress. https://bit.ly/3wIiqPk
Wondering why Congress is suddenly so interested in carrying the water for #crypto? In a recent #substack we explained how the industry is using a wave of lobbying and campaign cash to defeat elected officials who put the public interest ahead of crypto's interests.
Exactly. #Crypto industry is littering beltway outlets today with advertisements claiming 52 million Americans own crypto- a ridiculous claim intended to scare Congress into enacting crypto industry agenda: https://bit.ly/3wIiqPk
The #crypto legislation coming to a vote this week raises serious questions about investor, consumer, & financial stability protections. Consideration of these key issues should inform the debate. Learn more in our fact sheet.
https://bettermarkets.org/newsroom/fact-sheet-questions-to-consider-on-the-financial-innovation-and-technology-for-the-21st-century-act/
Just as #crypto legislation is being pushed in Congress, the industry is escalating its DC advertising, including the claim that 52 million Americans own #crypto. Our team scrutinizes that misleading number here:
As Former FTX CEO Sam Bankman-Fried’s Criminal Fraud Trial Begins, the Media Should Stop Repeating...
WASHINGTON, D.C.—Scott Farnin, Legal Counsel, issued the following statement refuting crypto’s false claim that 52 m...
bettermarkets.org
In @politico #MorningMoney, @Zachary reports that special interest groups are putting their full weight behind and scoring a bill to overhaul how the U.S. regulates #crypto.
https://www.politico.com/newsletters/morning-money
Big week for #crypto policy, with votes expected in the House and the @SECGov expected to make its decision on ether ETPs. We're asking the tough questions about how the proliferation of crypto will impact consumers, investors, & financial stability.
Standing up to the Lawless Crypto Industry | Better Markets
For years now, too many leaders on Wall Street and Washington either looked the other way or blindly supported t...
bettermarkets.org
#WallStreet's relentless lobbying campaign to weaken capital requirements is only escalating. It's up to concerned citizens and policymakers to actually do what's in the public interest.
https://www.wsj.com/finance/regulation/dimon-led-bank-ceos-to-fend-off-tougher-capital-rules-b647756d
With the victory in the #SCOTUS, the @CFPB can now focus its full attention on protecting the financial well-being of Main Street Americans and taking on predators in the financial industry.
Earlier this year, @DennisKelleher joined @RomaineBostick on @BloombergTV to discuss the dangers of the @SECGov approving #Bitcoin ETPs.
Next week, the #SEC has another decision to make on #Ether ETPs. The experience with spot bitcoin ETPs in the four months since their approval
Will #crypto Super PACs and lobbyists be able to swing the 2024 election? @DennisKelleher tells @hgmiller29 @mapamijares of @business that Americans know a lawless industry when they see one.
https://www.bloomberg.com/news/articles/2024-05-16/trump-mugshot-nfts-highlight-crypto-s-arrival-on-campaign-trail?sref=mQvUqJZj
Well-capitalized large banks are essential for a strong banking sector, financial system, and economy where Main Street families, businesses, and community banks can thrive. Yet #WallStreet continues to fight a #capital rule that could prevent the next financial crash. In our
"We don't want to give people incentives for election interference, to further erode Americans' trust in elections. We're already at a fragile state in our democracy." - Our Cantrell Dumas in @Law360 on the importance of a @CFTC proposal to prevent gambling on U.S. elections.
Today’s 7-2 victory is a massive win for #MainStreet and a major blow to financial interests looking to rip off hard-working Americans. The @CFPB is the federal government’s most meaningful attempt in generations to protect individuals from predatory practices in the financial
BREAKING: In huge 7-2 win for #MainStreet, #SCOTUS sides with the @CFPB and upholds the constitutionality of its funding. NOW, It’s time for lawmakers, regulators and the courts to support the CFPB’s mission of protecting Main Street Americans.
.@NateBeck9 @law360 writes on the @federalreserve's big bank climate scenarios. Our Shayna Olesiuk notes the lack of preparation from the banks is troubling: "The fact that they're not doing this for something that is clearly a risk, brings further concerns for their ability to
The #megabanks are crying poverty over modest increases to #capital requirements. In a story by @crobmatthews of @MarketWatch our Banking Director Shayna Olesiuk explains that #WallSteet has plenty of resources to spare.
https://www.marketwatch.com/story/bidens-banking-rules-will-fuel-inflation-lawmakers-say-817a3541?mod=chris-matthews
The #crypto industry remains plagued by fraud & abuse, but the @SECGov's approval of spot bitcoin ETPs has allowed the industry to peddle its products with a veneer of legitimacy. This means that when the next crypto crash occurs, retail investors will be harmed.
.@J_Y_Hill @Law360 writes on the @FinancialCmte hearing on the @FDICgov and its culture. @DennisKelleher discusses the hypocrisy of the report in the story, "It appears that the objective was to ignore Republican involvement and focus solely on the Democratic chair for the
.@NickNiedz @politico covers the financial industry and its allies in Congress' efforts to undo @USDOL's rule to protect the retirement savings of millions of Americans.
https://subscriber.politicopro.com/article/2024/05/allen-budd-introduce-rollback-of-dols-fiduciary-rule-00157955?source=email
.@politico's @declanharty reports on the @CFTC's proposal to ban election betting. Our Cantrell Dumas, explains "If sufficiently strong and clear, today’s proposed rulemaking will not only safeguard the core values of our democracy but also act as a barrier against the…
GOOD NEWS: @CFTC took steps today to clarify and strengthen the rules governing event contracts and specifically #election #gambling contracts. Gambling on elections is unacceptable for many reasons, including that it will likely incentivize election interference, further erode…
Our @DennisKelleher issued the following statement in connection with the @federalreserve's announcement of the results from its climate scenario analysis exercise.
"The results from the @federalreserve's pilot climate scenario are appalling and alarming. These results don’t…
.@CFTC is having an important conversation about event contracts at their open meeting. This includes political event contracts which would allow gambling on U.S. elections.
https://www.cftc.gov/Webcast/current
.@axios' @EmilyRPeck writes on the situation at the @FDICgov w/ @DennisKelleher noting the unfairness of the investigation.
https://www.axios.com/2024/05/10/fdic-sexual-harrasment-biden-gruenberg
.@DennisKelleher talked with @BuchElisabeth of @CNN about the true motives behind the recently released report on the @FDICgov. Rulemaking would come to a “screeching halt."
The Chair of the FDIC is facing calls to resign after scathing report. The implications for banks...
Martin Gruenberg, the Chairman of the Federal Deposit Insurance Corporation is facing a barrage of calls from lawmak...
www.cnn.com
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