The Bank Policy Institute (BPI) is an American public policy, research, and advocacy organization, based in Washington, D.C. The organization was formed in July 2018 following the merger of the Financial Services Roundtable and the

Clearing House Association The Clearing House is a banking association and payments company owned by the largest commercial banks in the United States. The Clearing House is the parent organization of The Clearing House Payments Company L.L.C., which owns and operates core ...

. BPI's members include 42 banking institutions representing universal banks, regional banks, and foreign banks doing business in the United States. The current CEO is Greg Baer, a former litigator, corporate executive and public official who served as Assistant Secretary for Financial Institutions at the

U.S. Department of the Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States. It is one of 15 current U.S. government departments. The department oversees the Bureau of Engraving and ...

during the Clinton administration and as Managing Senior Counsel for the

Federal Reserve Board of Governors The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the mo ...

History

The Association of Reserve City Bankers was formed in 1912 with 102 charter members and, in 1958, the Association of Registered Bank Holding Companies was formed due to the

Bank Holding Company Act of 1956 The Bank Holding Company Act of 1956 (, ''et seq.'') is a United States Act of Congress that regulates the actions of bank holding companies. The original law (subsequently amended), specified that the Federal Reserve Board of Governors must appr ...

. In 1993, these two entities merged to form the Bankers Roundtable. The name of the organization was changed to the Financial Services Roundtable in 2000 to reflect a decision to broaden the organization's mission to include integrated financial service providers. In July 2018, Financial Services Roundtable merged with the

to form the Bank Policy Institute. The organization was formed to bolster banks' political and public policy influence in Washington, D.C.

Divisions

BITS (Business-Innovation-Technology-Security — formerly named the Business Industry Technology Secretariat) formed as a division within the then-Bankers Roundtable in 1996. Its mission was to enhance collaboration across the industry on technological issues and address "emerging threats and opportunities,” including cybersecurity, fraud reduction, and critical infrastructure protection.

Leadership

While Greg Baer currently serves as the CEO, the organization's board of directors is chaired by JPMorgan Chase CEO

Jamie Dimon James Dimon ( ; born March 13, 1956) is an American businessman who has been the chairman and chief executive officer (CEO) of JPMorgan Chase since 2006. Dimon began his career as a management consultant at Boston Consulting Group. After earnin ...

and composed of the following financial services executives: * Jamie Dimon, JPMorgan Chase & Co. (Chairman) * Brian T. Moynihan, Bank of America * Jean-Laurent Bonnafé, BNP Paribas * Robin Vince, BNY Mellon *

Richard Fairbank Richard Dana Fairbank (born September 18, 1950) is an American billionaire businessman who co-founded Capital One with Nigel Morris in 1988. He was on the board of directors of MasterCard International from 2004 to 2006. He is a member of th ...

, Capital One * Jane Fraser, Citigroup * Bruce Van Saun, Citizens * Tim Spence, Fifth Third * Bryan Jordan, First Horizon * David Solomon, Goldman Sachs * Stephen Steinour, Huntington * René Jones, M&T Bank * Kanetsugu Mike, MUFG * John Turner, Jr., Regions * William Rogers, Truist * Andrew Cecere, U.S. Bancorp * Charles W. Scharf, Wells Fargo

Members

BPI has approximately 42 member companies, including: *

Ally Financial Ally Financial Inc. (known as GMAC until 2010) is an American bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan. The company provides financial services including car finance, online bank ...

Barclays Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...

* BMO Financial Group *

BNP Paribas BNP Paribas (; sometimes referred to as BNPP or BNP) is a French multinational universal bank and financial services holding company headquartered in Paris. It was founded in 2000 from the merger of two of France's foremost financial instituti ...

BNY Mellon The Bank of New York Mellon Corporation, commonly known as BNY, is an American international financial services company headquartered in New York City. It was established in its current form in July 2007 by the merger of the Bank of New York an ...

Capital One Capital One Financial Corporation is an American bank holding company founded on July 21, 1994, and specializing in credit cards, auto loans, banking, and savings accounts, headquartered in Tysons, Virginia, with operations primarily in the ...

Charles Schwab Corporation The Charles Schwab Corporation is an American multinational Financial institution, financial services company. It offers banking, commercial banking, investing and related services including consulting, and wealth management advisory services ...

* CIBC *

Citibank Citibank, N.A. ("N. A." stands for "National bank (United States), National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation, multinational corporation. Ci ...

* Citizens Bank * Comercia Bank *

Discover Financial Discover Financial Services, Inc. was an American financial services company best known for its Discover Card. Founded in 1985, the company offered a wide range of banking and payment services, including checking and savings accounts, persona ...

Fifth Third Bank Fifth Third Bancorp is a bank holding company headquartered in Cincinnati, Ohio. It is the parent company of Fifth Third Bank (5/3 Bank), which operates 1,100 branches and 2,400 automated teller machines, which are located in 11 states: Oh ...

* First Horizon National Corporation *

American Express American Express Company or Amex is an American bank holding company and multinational financial services corporation that specializes in payment card industry, payment cards. It is headquartered at 200 Vesey Street, also known as American Expr ...

Goldman Sachs The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...

* HSBC USA * Huntington * JPMorgan Chase & Co. * Key Bank *

Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

M&T Bank M&T Bank Corporation (Manufacturers and Traders Trust Company) is an American bank holding company headquartered in Buffalo, New York. It operates 950+ branches in 12 states and Washington D.C. across the Eastern United States, from Maine to Vi ...

MUFG Bank is a Japanese bank and the core banking subsidiary of the Mitsubishi UFJ Financial Group (MUFG). It was established on January 1, 2006 through the merger of the and , two major banking groups that themselves were the product of recent banking ...

Northern Trust Northern Trust Corporation is an American financial services company headquartered in Chicago, Illinois, that caters to corporations, institutional investors, and ultra high net worth individuals. Northern Trust is one of the List of largest ban ...

PNC Bank The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 U.S. state, states and the District of Columbia, ...

Royal Bank of Canada Royal Bank of Canada (RBC; ) is a Canadian multinational Financial institution, financial services company and the Big Five (banks), largest bank in Canada by market capitalization. The bank serves over 20 million clients and has more than ...

Bank of America The Bank of America Corporation (Bank of America) (often abbreviated BofA or BoA) is an American multinational investment banking, investment bank and financial services holding company headquartered at the Bank of America Corporate Center in ...

Regions Financial Corporation Regions Financial Corporation is an American bank holding company headquartered in the Regions Center in Birmingham, Alabama. The company provides retail and commercial banking, trust, stock brokerage, and mortgage services. Its banking subsi ...

* Santander Bank *

Silicon Valley Bank Silicon Valley Bank (SVB) is a commercial bank division of First Citizens BancShares. The bank was previously the primary subsidiary of SVB Financial Group, a Public company, publicly traded bank holding company that had offices in 15 U.S. state ...

State Street Corporation State Street Corporation is an American global financial services and bank holding company headquartered at One Congress Street in Boston with operations worldwide. The company is named after State Street in Boston, which was known as the "Gr ...

Synchrony Financial Synchrony Financial is an American consumer financial services company with its headquarters in Stamford, Connecticut, United States. The company offers consumer financing products, including credit, promotional financing and loyalty programs, ...

* Synovus *

TD Bank Toronto-Dominion Bank (), doing business as TD Bank Group (), is a Canadian Multinational corporation, multinational banking and financial services corporation headquartered in Toronto, Ontario. The bank was created on February 1, 1955, through ...

Truist Financial Truist Financial Corporation () is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks ...

UBS UBS Group AG (stylized simply as UBS) is a multinational investment bank and financial services firm founded and based in Switzerland, with headquarters in both Zurich and Basel. It holds a strong foothold in all major financial centres as the ...

* United Bankshares, Inc. * U.S. Bank *

Wells Fargo Wells Fargo & Company is an American multinational financial services company with a significant global presence. The company operates in 35 countries and serves over 70 million customers worldwide. It is a systemically important fi ...

* Zions Bancorporation

Major initiatives

BPI was a vocal advocate for reforms to beneficial ownership requirements that would require the U.S. Department of Treasury

Financial Crimes Enforcement Network The Financial Crimes Enforcement Network (FinCEN) is a bureau within the United States Department of the Treasury that collects and analyzes information about financial transactions to combat domestic and international money laundering, terrori ...

to collect information from companies at the time of incorporation to determine who owns or has a financial interest in the company. A legislative fix, supported by BPI, passed in 2020 as a provision of the annual defense spending bill known as the

National Defense Authorization Act The National Defense Authorization Act (NDAA) is any of a series of United States federal laws specifying the annual budget and expenditures of the U.S. Department of Defense. The first NDAA was passed in 1961. The U.S. Congress oversees the de ...

References

External links

* {{Financial trade associations in the United States Advocacy groups in the United States Trade associations based in the United States Non-profit organizations based in Washington, D.C. 501(c)(6) nonprofit organizations Business and finance professional associations in the United States