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Last week, CFPB Acting Director Mick Mulvaney issued a new mission statement to the CFPB staff outlining his vision for the agency. He began by cherry-picking a quote from the previous director, Richard Cordray, about... Read More
One of the most consequential events during the 2008 financial crisis was when the Reserve Primary Fund “broke the buck” right after Lehman Brothers collapsed into bankruptcy.  The result was a run on money... Read More
Presented in chronological order, here are the top stories from 2017: #1) NPR's Chris Arnold on DoL Rule: "Financial Industry Groups Fear Trump Will Block Investor Protection Rule" #2)... Read More
With the Dow and NASDAQ off to their best start of the year since 2006, there's no denying that most of the key indicators suggest good economic times are here and appear likely to continue, at least in the near term for... Read More
As the end of the year approaches, we are taking a look at the many gifts heaped on Wall Street and the financial services industry during the first year of the Trump administration contrary to Candidate Trump’s... Read More
Offering a blistering critique of the Trump administration’s deregulation frenzy and the potential consequences, last week Better Markets’ President and CEO participated in the Global Shareholder Activism... Read More
And, So it Begins…………….Trump’s Acting Consumer Protection Director Begins Immediately to Stop Protecting Ripped Off Americans and Helping Predatory Financial Companies: As... Read More
The complaints about financial reform that have been burning in deregulation devotees and lobbyists largely fall within one generalized rallying cry: “Banks are simply too burdened by excessive regulation to lend to... Read More
Unregulated, opaque and dangerous derivatives were at the core of causing and spreading the 2008 financial crash.  Not only were they packages of worthless financial products, but they also acted as a conveyor belt... Read More
In what is likely to be his last public speech as the head of the Federal Deposit Insurance Corporation, Chairman Martin Gruenberg in a speech delivered at an event at the Brookings Institution “Financial regulation... Read More
As anyone with passing familiarity of Better Markets knows, we have had our disagreements with Larry Summers.  While he is indisputably intelligent and thought provoking, we have also found him to be dead wrong on a... Read More
In a significant and troubling step that will increase the already broad power that Congress has under the Congressional Review Act (CRA) to invalidate agency rules, the GAO announced last week its determination that “... Read More
            A recent piece in The New York Times entitled “Why Democrats Need Wall Street” offers what can, at best, be described as a misguided view on Wall Street.  At... Read More
On Monday, September 25, 2107, outgoing CFTC Commissioner Sharon Bowen delivered a farewell address at the Institute of International Economic Law.  During her three-year tenure at the CFTC, Commissioner Bowen was an... Read More
One would have thought that between Wells Fargo trying to force customers who had bogus accounts opened in their name into arbitration and Equifax doing the same to consumers who just want to see if their private, personal... Read More
When writing the laws governing our securities markets, Congress determined that the commission of certain illegal, fraudulent, or criminal acts should trigger not only fines, restitution orders, and injunctions, but also... Read More
In one of the most important challenges to the Dodd Frank financial reform law ever brought before the courts, MetLife is desperately attempting to avoid rules that protect our financial system and taxpayers from the threat... Read More
Most people think of Better Markets solely as a Wall Street watchdog, but it is also a government watchdog, as illustrated in our 2012 court challenge against the Securities and Exchange Commission (SEC) and Citigroup when... Read More
Too often in Washington when the heat is on an agency for something the public is focused it creates a committee rather than doing anything real or meaningful about the problem.  The result is the appearance of action... Read More
Victory is sweet, but very irritating to the losers, especially if they are Wall Street’s lawyers, lobbyists and allies.  After losing every battle for the last couple of years, industry opponents of the... Read More