Defending Main Street
Protecting Consumers, Investors, Retirees and Markets from the Predators
Financial Reform and Stability
Preventing Financial Crashes and Economic Collapse While Protecting Your Pocketbook, Our Shared Prosperity and America’s Limited Resources
Accountability
Returning the Law to Wall Street While Watching the Watchdogs, Defending Democracy, Transparency and Open Government
Advocacy and Outreach
Supporting the productive economy, creating wealth and broad-based prosperity while reducing systemic threats, inequality and economic insecurity
“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.”
“Dennis is one of the most plugged in and important names here in Washington as the founder and leader of the investor advocacy group Better Markets. His views can not only drive fear into the heart of Wall Street, but they are also driving the conversation on Capitol Hill, especially on the most pressing topics concerning market abuse, risk and the integrity of the financial system.”
“Better Markets encourages a free flow of reform-minded ideals by bringing transparency and some small counterweight to the lobbying goliath of Wall Street.”
“Dennis Kelleher is one of the most effective group CEOs in Washington, D.C., and Better Markets’ record of achievement proves that.”
“On the front-lines of this effort is Better Markets, a relatively new advocacy group pushing to ensure new regulations are as strong as possible.”
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.
.@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
Shayna Olesiuk, our director of banking policy, spoke to @ByKyleCampbell @AmerBanker on the relentless lobbying campaign by megabanks on #capital "we should not and cannot lose focus on the many important benefits of the rulemaking for the American people, like financial…
.@byclairew @AmerBanker reports the House is set to vote today on whether to overturn a @SECGov staff bulletin on the custody of #crypto assets for clients.
https://www.americanbanker.com/news/house-set-to-vote-on-nullifying-sec-crypto-custody-guidance-for-banks
.@DennisKelleher tells @J_Y_Hill of @Law360 that the report released on the @FDICgov's culture focused inordinately on Gruenberg and failed to fully scrutinize the conduct of other FDIC leaders, particularly Gruenberg's predecessor in the agency's top job. Gruenberg took over at…
Our Director of Securities Policy Benjamin Schiffrin spoke with @GGottsegen @MarketWatch about the
@SECGov's work to protect retail investors when it comes to to #crypto and predatory firms like
@RobinhoodApp.
Robinhood’s SEC battle asks whether crypto is a security. The answer could change how we trade.
The way crypto is traded may be a factor in the debate over whether the digital asset is a security.
www.marketwatch.com
There is no question that there has been very serious workplace misconduct at the @FDICgov for a long time and an inexplicable and inexcusable failure of leadership to stop it. Those failures have spanned Republican and Democratic leadership at the #FDIC, but the reporting and…
Sunlight is the best disinfectant. That's why we're vigorously defending a @Nasdaq rule that will disclose key information about the diversity of boards of directors for companies on the exchange. Lean more about this pivotal court case here: https://bit.ly/3JPi4t2
.@DennisKelleher is on @Bloomberg TV live now!
At about 830 pm, @DennisKelleher will be on @Bloomberg TV w/@HaidiLun & @BelleDroulers to discuss #CZ's sentencing. You can watch live here: https://www.bloomberg.com/live/us?sref=mQvUqJZj
At about 830 pm, @DennisKelleher will be on @Bloomberg TV w/@HaidiLun & @BelleDroulers to discuss #CZ's sentencing. You can watch live here:
Live TV - Bloomberg
Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.
www.bloomberg.com
#WallStreet is spending an enormous amount to lobby Washington on #capital. Unfortunately, many of the industry’s anti-capital claims lack a valid basis or are disproven by research and data. Our fact sheet explains why #megabank claims are misleading & wrong.…
“Crime pays is the message sent today” says @DennisKelleher in important @Reuters story by @deborahebloom @JonathanStempeo on the miscarriage of justice at the #CZ @binance sentencing.
Binance's CEO Zhao faces sentencing over money laundering violations
The former chief executive of Binance, the world's largest cryptocurrency exchange, could face years in prison when ...
www.reuters.com
.@CNN’s @allisondmorrow aptly covers the #CZ sentencing noting the criticism that the @TheJusticeDept hasn’t done enough to combat #crypto’s crimes. @DennisKelleher says it’s time to hold this lawless industry accountable.
https://www.cnn.com/2024/04/30/business/binance-founder-sentenced-money-laundering/index.html
One year ago, #FirstRepublicBankbecame the second largest bank failure in U.S. history. Meanwhile, @jpmorgan the United States’ largest bank, got even bigger and more powerful when it acquired First Republic in a generous deal with the @FDICgov. While #JPMorgan greatly benefited…
.@yaffebellany of the @nytimes covers the tragically light sentence for @Binance’s #CZ. @DennisKelleher explains in the story that this is “an egregious miscarriage of justice and sends exactly the wrong message to criminals worldwide.”
Binance Founder Sentenced to Four Months in Prison
Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, had pleaded guilty to a money-laundering violation.
www.nytimes.com
"Crime pays" is the message sent today not by the Judge but by the DOJ’s weak, minimalist sweet deal with @binance former CEO, #CZ. Read our full statement:
https://bettermarkets.org/newsroom/crime-pays-is-the-message-sent-by-dojs-actions-reflected-in-todays-sentencing-of-binances-former-ceo-cz-to-just-4-months-in-prison/
.@jessica_corso of @Law360 covers the important debate at the @CFTC on the financial industry's use of #AI. Our comment letter emphasized that policymakers and regulators must consider the threats #AI can pose to investors and market stability.
CFTC Receives Competing Visions For AI's Regulatory Future - Law360
Business lobbyists have urged the U.S. Commodity Futures Trading Commission to lean on existing regulations to address...
www.law360.com
#AI #Deepfakes are just one of the rising threats to democracy. If #gambling is allowed on US elections, like @Kalshi has proposed, just imagine the lengths bettors would go to change a race outcome and win their wager.
AI deepfakes threaten to upend global elections. No one can stop them.
Elections from India to Europe have been assailed by AI deepfakes that spread quickly and are no longer easy to debunk — leaving voters vulnerable.
www.washingtonpost.com
Under #CZ's leadership, @Binance failed to monitor and stop money laundering, including "well over 100,000 suspicious transactions” linked to ransomware attacks, child sexual abuse, large-scale hacks, the narcotics trade, and terrorists organizations
https://bettermarkets.org/newsroom/tomorrows-sentencing-of-cz-binances-founder-owner-and-former-future-ceo-will-be-a-miscarriage-of-justice/
#Trump setting interest rates !?! @DennisKelleher joined @BloombergTV w/ @sonalibasak & @kgreifeld on Trump's plans to weaken the @federalreserve's independence. Dennis emphasized there could be devastating implications for our financial system, economy, & Main Street if Trump is…
At 440 pm @DennisKelleher will appear on @BloombergTV with @sonalibasak @kgreifeld to discuss reports that Trump allies are planning to weaken the @federalreserve's independence. https://www.bloomberg.com/live/us
How is the financial industry responding to a
@CFPB proposal to cut down on "junk fees"? The credit card company Synchrony is hiking its APR to 34.99% for its T.J. Maxx credit card, with its penalty APR after a late payment soaring to 39.99%! @polorocha18
https://www.americanbanker.com/news/synchrony-hikes-interest-rates-on-credit-cards-to-offset-late-fee-rule
Important column by @SingletaryM of the @washingtonpost on @USDOL's new rule to protect Americans' retirement savings. @MicahHauptman of @ConsumerFed points out that without the rule "“A person could receive a much larger commission for recommending one product over another,…
We have entered a dangerous new era in which the use of #articialintelligence in finance is exploding. Financial firms across the spectrum are making huge investments in this technology. While there are benefits, #AI can also endanger the stability of markets and important…
Yesterday @POTUS & @USDOL announced a rule that will help Americans struggling to save and invest for a financially secure and dignified retirement, by requiring all financial advisers to act in the best interest of their clients. Congrats to @ActSecJulieSu
on finalizing a rule…
Most Americans would be horrified if their doctors were allowed to prescribe ineffective or even harmful medications because they could earn fat fees or commissions from pharmaceutical companies.
Yet that’s essentially what goes on in the world of financial advice for workers…
We applaud @POTUS and @USDOL for finalizing its new Retirement Security Rule, that will help all Americans
#retire with dignity by ensuring they get best interest advice from financial advisers. #saveourretirement #closetheloopholes
DOL’s Final “Best Interest” Rules Will Protect Retirement Savers From Advisers Who Line Their...
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on the release ...
bettermarkets.org
This #EarthDay, we call on financial regulators to do everything possible to minimize and mitigate the effects of climate change. In our new fact sheet, we examine the growing climate crisis and its impact on the financial well-being of all Americans. https://bettermarkets.org/newsroom/fact-sheet-earth-day-brings-renewed-urgency-to-address-the-many-financial-risks-caused-by-climate-risks/
#EarthDay brings renewed urgency to address the many financial risks caused by #climaterisks. As we explain in our new fact sheet, financial regulatory agencies must adapt and respond to these risks. https://bettermarkets.org/newsroom/fact-sheet-earth-day-brings-renewed-urgency-to-address-the-many-financial-risks-caused-by-climate-risks/
.@DennisKelleher spoke to the @FT’s @brookeamasters @stef_palma @stephengandel about an @FDIC proposal aimed at ensuring asset managers do not seek too much influence over the banks in which they hold large stakes.
FDIC ponders tighter checks on big ‘passive’ investors in US banks
Proposals would demand asset managers show they are not seeking to control lenders in which they have large stakes
www.ft.com
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