The Clearing House Association and the Financial Services Roundtable completed their merger on Monday to form the new nonpartisan research and advocacy group Bank Policy Institute (BPI), which represents the nation’s leading banks and their customers.
“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, Bank of America’s CEO and BPI’s chairman, in a statement. “On their behalf, we look forward to working with policymakers and elected officials, who share that objective with us.”
Greg Baer, BPI’s CEO, added in the statement that “all of BPI’s work will rest on a foundation of research and analysis.”
BPI, Baer continued, “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.”