Better Markets

Better Markets
Name	Better Markets
Formation	2010
Type	Nonprofit advocacy organization
Headquarters	Washington, D.C.
Founder	Lisa Donner
Key people	Roland Fryer

Better Markets is a Washington, D.C.–based nonprofit public interest organization focused on financial reform, regulatory oversight, and consumer protection. Founded in 2010 in the aftermath of the 2007–2008 financial crisis, the group engages in analysis, litigation, and advocacy aimed at strengthening Dodd–Frank Wall Street Reform and Consumer Protection Act implementation, enhancing Securities and Exchange Commission enforcement, and reforming bank practices. Its work intersects with federal agencies, congressional processes, and major financial institutions.

History

Better Markets emerged in the wake of the global financial crisis that followed the collapse of Lehman Brothers and the 2008–2009 recession. Its founding placed it among other post-crisis actors such as Public Citizen, Center for American Progress, and Americans for Financial Reform. Early activities tracked implementation of the Dodd–Frank Wall Street Reform and Consumer Protection Act, oversight of the Federal Reserve System, and responses to rulings from the United States Supreme Court affecting financial regulation. Over time the organization engaged with rulemakings at the Commodity Futures Trading Commission, enforcement actions by the Department of Justice, and proceedings before the U.S. Court of Appeals for the D.C. Circuit.

Mission and Activities

Better Markets states a mission to promote transparency, accountability, and stability in the financial system by advocating for stronger regulation of banks, securities firms, and markets. The organization produces policy reports that analyze proposals from agencies such as the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency. It files amicus briefs in cases before the United States Supreme Court and federal appellate courts, submits comment letters during notice-and-comment rulemaking under the Administrative Procedure Act, and testifies before congressional committees including the United States Senate Committee on Banking, Housing, and Urban Affairs and the United States House Committee on Financial Services. Better Markets also convenes expert roundtables and partners with academic institutions like Harvard University, Columbia University, and Yale University for research collaboration.

Advocacy and Policy Positions

The organization has advocated for robust enforcement of provisions in Dodd–Frank Wall Street Reform and Consumer Protection Act, support for the Volcker Rule, and stricter capital and liquidity standards promoted by the Basel Committee on Banking Supervision. It has opposed deregulatory moves promoted by policy actors associated with Trump administration initiatives and criticized interpretive changes from the Office of the Comptroller of the Currency and rule rescissions at the Securities and Exchange Commission during certain periods. Better Markets has supported measures to enhance Consumer Financial Protection Bureau authority, strengthen Too big to fail frameworks, and expand transparency in derivatives markets overseen by the Commodity Futures Trading Commission. The group has also weighed in on executive compensation policies debated by the Financial Stability Oversight Council and Federal Reserve Board stress-testing regimes.

Litigation and Legal Actions

Litigation forms a significant component of Better Markets’ strategy. The organization has filed amicus briefs and litigated matters challenging agency rulemaking under the Administrative Procedure Act and defending regulatory actions against industry lawsuits brought in venues such as the United States Court of Appeals for the Second Circuit and the United States Court of Appeals for the D.C. Circuit. It has participated in high-profile cases implicating the Consumer Financial Protection Bureau structure, Securities and Exchange Commission enforcement discretion, and interpretation of the Bank Holding Company Act. Through amici filings, it has aligned with organizations and academic scholars from institutions including New York University School of Law, Georgetown University, and Stanford Law School to influence judicial outcomes affecting market oversight.

Funding and Organizational Structure

Better Markets operates as a nonprofit and receives funding from a range of philanthropic foundations and donors that support public interest legal advocacy and policy research. Its budget supports attorneys, policy analysts, and communications staff who engage with federal agencies and the United States Congress. The organization’s leadership has included individuals with experience at federal agencies such as the Securities and Exchange Commission and the Department of the Treasury, as well as alumni of nonprofit advocacy groups like Public Citizen and think tanks like the Brookings Institution. Governance includes a board of directors drawn from finance, law, and public policy circles.

Criticism and Controversies

Critics of the organization have argued that its adversarial posture toward financial institutions aligns it with partisan policy battles involving actors from the Democratic Party and progressive advocacy networks such as MoveOn.org and League of Conservation Voters, while industry groups including Chamber of Commerce and Financial Services Forum have accused it of promoting overly rigid regulation that could impede capital markets. Opponents have challenged its legal standing in certain litigations and questioned the influence of foundation funding on its priorities, citing donors associated with philanthropic entities like Ford Foundation and Open Society Foundations. Debates over the proper balance between market freedom and regulatory oversight have placed the organization at the center of disputes involving federal regulators, major banks such as JPMorgan Chase, Goldman Sachs, and Citigroup, and statutory interpretations by the United States Supreme Court.

Category:Nonprofit organizations based in Washington, D.C.