Bank Policy Institute

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. 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 during the Clinton administration and as Managing Senior Counsel for the Federal Reserve Board of Governors.

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. 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 Clearing House Association to form the Bank Policy Institute.

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 
The organization’s board of directors is chaired by JPMorgan Chase & Co. Chairman of the Board and Chief Executive Officer Jamie Dimon and is 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, 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

Official Mission, Policy Issues and Connections

Official Mission
The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks. BPI’s members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ nearly 2 million Americans, make nearly half of the nation’s bank-originated small business loans and are an engine for financial innovation and economic growth.

Policy Issues, Positions 
According to its official website, the group focuses on financial services legislation and regulation. Such issues include:

 Accounting standards/FASB
 Anti-money laundering, bank secrecy act and sanctions.
 Bank conditions and credit availability
 Board governance
 Consumer affairs
 Cybersecurity, technology and data protection
 Digital assets
 Diversity and inclusion
 Dodd-Frank Act implementation
 Fintech and innovation
 Monetary policy
 Prudential regulations, including bank capital and liquidity
 Resolution and recovery planning
 Supervision and enforcement

Members
BPI has approximately 42 members. Member companies include:

 Ally Financial
 Barclays
 BMO Financial Group
 BNP Paribas
 BNY Mellon
 Capital One
 Charles Schwab Corporation
 CIBC
 Citibank
 Citizens Bank
 Comercia Bank
 Discover Financial
 Fifth Third Bank
 First Horizon National Corporation

 American Express
 Goldman Sachs
 HSBC USA
 Huntington
 JPMorgan Chase & Co.
 Key Bank
 Morgan Stanley
 M&T Bank
 MUFG Bank
 Northern Trust
 PNC Bank
 Popular, Inc.
 Raymond James Financial
 Royal Bank of Canada

 Bank of America
 Regions Financial Corporation
 Santander Bank
 Silicon Valley Bank
 State Street Corporation
 Synchrony Financial
 Synovus
 TD Bank
 Truist Financial
 UBS
 United Bankshares, Inc.
 U.S. Bank
 Wells Fargo
 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 to collect information from companies at the time of incorporation to determine who owns or has a financial interest in the company. The organization argued that this would help by making it harder for illicit actors to launder money through the U.S. economy.

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.

See also
 Financial market
 Financial services
 European Financial Services Roundtable
 Business Roundtable

References

External links
 Bank Policy Institute
 Location of FSR

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