For Immediate Release
Washington, D.C. – Today, the Bank Policy Institute (BPI), a new nonpartisan research and advocacy group representing the nation’s leading banks and their customers, announced it has opened its doors. The new organization, BPI, is the result of a merger between the Clearing House Association and the Financial Services Roundtable. BPI members include universal banks, regional banks and the major foreign banks doing business in the United States. Serving as engines for financial innovation and economic growth, BPI members collectively employ nearly 2 million Americans, make 72 percent of all U.S. loans and nearly half of the nation’s small business loans.
Using data and analysis to inform policy, BPI’s mission is to promote policies and regulations that enhance the ability of its member companies to serve customers and clients, help drive the economy, invest and innovate, and ensure safety and soundness.
“The CEOs in the BPI represent millions of employees who are helping drive the economy ahead by serving their customers and clients,” said Brian Moynihan, Chief Executive Officer of Bank of America and Chairman of the Bank Policy Institute. “On their behalf, we look forward to working with policymakers and elected officials, who share that objective with us.”
“All of BPI’s work will rest on a foundation of research and analysis,” said Greg Baer, CEO of the Bank Policy Institute. “We will demonstrate that America’s leading banks are extraordinarily resilient and that the right balance of policies and regulations must be maintained to help ensure they continue to play their important role in helping drive economic growth. An environment where banks can be both resilient and innovative will help create opportunity and allow everyone, including low-income Americans and small businesses, better access to more affordable credit.”
BPI’s staff includes economists, researchers, financial analysts and attorneys, all focused on using data and analysis to shape sound policy. BPI will engage in policy debates with members of Congress, U.S. and global regulators, academics and media by distributing academic-quality research papers and data-driven policy analysis through blog posts, white papers, comment letters and Congressional testimony.
BPI will continue leading innovative work in cybersecurity and technology via BITS, a subsidiary dedicated to Business, Innovation, Technology and Security. BITS is led by C-Suite executives including CEOs, CIOs, and CISOs and has developed a strong reputation for promoting current and emerging technology, fostering innovation, reducing fraud, and improving cybersecurity and risk-management practices for the nation’s financial sector.
BITS brings together its members, government agencies and technology firms to advance collaboration in the regulatory and risk environment; discuss emerging policy issues; improve effectiveness of technology programs; promote critical infrastructure resilience; strengthen cybersecurity; and reduce fraud.
BPI is also forming a Global Regulatory Policy Committee, which is composed of the global CEOs of BPI’s internationally active banks. The committee will meet to discuss the state of the global regulatory and economic environment and develop additional ways to address the most serious risks, including cybersecurity threats.
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