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From Wikipedia, the free encyclopedia
The Bank Policy Institute (BPI) is an American public policy, research, and advocacy organization, based in Washington, D.C.
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| Abbreviation | BPI |
|---|---|
| Established | 1912 |
| Type | Industry trade group |
| 36-0753125 | |
| Legal status | 501(c)(6) |
| Location |
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Chairman | Jamie Dimon |
President and CEO | Greg Baer |
Revenue (2019) | US$29,899,102 |
| Website | www |
The organization was formed in July 2018 following the merger of the Financial Services Roundtable and the Clearing House Association.[1][2] 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.
The Association of Reserve City Bankers was formed in 1912 with 102 charter members[3] 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.[4] 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.[5]
In July 2018, Financial Services Roundtable merged with the Clearing House Association to form the Bank Policy Institute.[6] The organization was formed to bolster banks' political and public policy influence in Washington, D.C.[7]
BITS (Business-Innovation-Technology-Security — formerly named the Business Industry Technology Secretariat)[8][9] formed as a division within the then-Bankers Roundtable in 1996.[10] 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.[11]
While Greg Baer currently serves as the CEO,[12] the organization's board of directors is chaired by JPMorgan Chase CEO Jamie Dimon and composed of the following financial services executives:
BPI has approximately 42 member companies, including:[13]
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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. 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.[14]
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