Better Markets, a nonprofit financial reform advocacy organization, has announced the appointment of three former senior federal regulatory officials to its leadership team. The new hires bring extensive experience from the Federal Reserve Board, Securities and Exchange Commission, and Treasury Department to strengthen the organization’s financial reform advocacy efforts.
According to a statement released by the organization, Evan R. LeFlore will serve as Director of AI, Innovation, and Economic Opportunity, Christopher A. Appel as Director of Banking Policy, and Dominick V. Freda as Legal Director. All three previously held senior positions at major federal financial regulatory agencies.
Former Federal Reserve and SEC Officials Join Financial Reform Team
LeFlore comes to Better Markets from the Federal Reserve Board, where he served as a senior policy strategist. His background also includes positions at Google, Promontory Financial Group, and the Federal Reserve Bank of New York, according to the organization.
Meanwhile, Appel was most recently a senior policy development specialist at the Federal Reserve Board. He previously worked at the Federal Reserve Bank of New York, the Treasury Department, and the Securities and Exchange Commission.
Freda served as Assistant General Counsel for Appellate Litigation in the Office of the General Counsel at the Securities and Exchange Commission. Before joining the SEC, he worked as an associate at two national law firms.
Expanding Banking Policy and Innovation Expertise
The three new directors will join Better Markets’ existing team of former government officials and private sector experts. This includes Phillip Basil, formerly of JPMorgan and the Federal Reserve, who now serves as the organization’s Director of Economic Growth and Financial Stability.
Additionally, Tim Clark, former Deputy Director of Supervision and Regulation at the Federal Reserve, serves as Distinguished Senior Banking Adviser. The expanded team reflects Better Markets’ focus on strengthening its capacity to address banking regulation and financial technology issues.
Focus on AI Regulation and Banking Reform
In his statement, LeFlore emphasized the need to ensure artificial intelligence and financial innovation serve the public interest rather than solely corporate profits. He noted that too many Americans remain underserved by financial institutions despite rapid technological advances in the sector.
However, Appel highlighted concerns about what he characterized as current deregulation trends in Washington policymaking. He argued that such approaches prioritize large financial firms over Main Street Americans and mirror conditions that preceded the 2008 Global Financial Crisis.
Strengthening Legal Advocacy Efforts
Freda stressed the importance of ensuring the judicial system serves all Americans rather than wealthy interests. In his statement, he said maintaining the rule of law and consistent application of legal principles is essential for economic prosperity and wealth creation.
Dennis Kelleher, Co-Founder, President and CEO of Better Markets, described the new hires as invaluable additions to the organization’s mission. He stated that while wealthy interests deploy extensive resources to influence the economy, Better Markets fights back with substantive expertise to promote broad-based economic security.
In contrast to the resources available to large financial institutions, Kelleher noted that more than 160 million Americans control less than 2.5 percent of the country’s wealth. The organization positions itself as a counterweight to industry lobbying efforts in financial regulation debates.
The timing and specific policy initiatives the expanded team will pursue remain to be seen as the new directors assume their roles. Better Markets has not announced a timeline for upcoming advocacy campaigns or regulatory comment letters under the new leadership structure.