Bank Policy Institute

Bank Policy Institute
Name	Bank Policy Institute
Abbreviation	BPI
Formation	2018
Type	Trade association
Headquarters	New York City, Washington, D.C.
Region served	United States
Leader title	President and CEO
Leader name	Gregory Baer

Bank Policy Institute

The Bank Policy Institute is a U.S.-based trade association and research organization representing major banking firms and financial institutions. It engages with lawmakers, regulatory agencies, and international bodies on matters related to banking regulation, financial stability, fintech, and public policy. The institute produces analyses, hosts events, and files comment letters addressing rulemakings from bodies such as the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.

History and formation

The organization was formed in 2018 through the combination of the Financial Services Roundtable and the Bankers Roundtable, consolidating legacy advocacy operations that traced roots to earlier groups active during debates around the Gramm–Leach–Bliley Act and the aftermath of the Global Financial Crisis of 2007–2008. Its formation occurred amid regulatory responses shaped by the Dodd–Frank Wall Street Reform and Consumer Protection Act and shifts under administrations of Barack Obama, Donald Trump, and later Joe Biden. The institute's charter aimed to centralize representation for firms like JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo in deliberations with entities including the Securities and Exchange Commission, the Treasury Department (United States), and international standard-setters such as the Financial Stability Board and the Basel Committee on Banking Supervision.

Mission and activities

The institute frames its mission around promoting policies that it argues support financial stability, resilient payment systems, and efficient capital markets. It provides expert commentary to panels like the House Financial Services Committee and the Senate Committee on Banking, Housing, and Urban Affairs, files regulatory petitions with the Office of Information and Regulatory Affairs, and engages in technical rulemaking dialogues with the Commodity Futures Trading Commission and the International Monetary Fund. Activities include publishing policy reports, conducting economic modeling for stress scenarios akin to those used in the Comprehensive Capital Analysis and Review, and convening roundtables with leaders from firms such as Goldman Sachs, Morgan Stanley, U.S. Bancorp, and PNC Financial Services Group.

Organizational structure and governance

Governance combines an executive leadership team with a board drawn from senior executives at member banks. The president and CEO oversees policy, legal, and research divisions, and reports to a board of directors composed of chief executives and chairpersons from member institutions such as SunTrust Banks (now Truist), State Street Corporation, BB&T (now Truist), and Capital One Financial. Committees within the organization address regulatory affairs, cybersecurity, and international policy, interacting with counterparts at bodies like SWIFT, The Clearing House, and the Institute of International Finance. Legal counsel and public affairs units coordinate filings with courts such as the United States Court of Appeals for the D.C. Circuit when challenging agency rulemakings.

Policy positions and advocacy

The institute has advocated for revisions to post-crisis frameworks including capital requirements derived from the Basel III accords, changes to the Volcker Rule, and reform of aspects of the Orderly Liquidation Authority under the Dodd–Frank Act. It has taken positions on tax provisions debated in the Tax Cuts and Jobs Act of 2017 context and on market structure issues involving the New York Stock Exchange and Nasdaq. On technology topics it has engaged with regulators over the regulation of stablecoins, model risk, and cloud computing, interacting with agencies like the Consumer Financial Protection Bureau and the National Institute of Standards and Technology. The institute also files amici briefs in cases before the Supreme Court of the United States and supports legislative proposals introduced in the Congress of the United States.

Research, publications, and events

The institute publishes white papers, policy briefs, and research notes analyzing stress testing, liquidity rules, and trends in corporate and retail banking. Its research collaborations have referenced methodologies from academic institutions such as Harvard University, Columbia University, University of Chicago, Massachusetts Institute of Technology, and think tanks including the Brookings Institution and the American Enterprise Institute. Events include conferences and panels featuring speakers from the Federal Reserve Bank of New York, the International Monetary Fund, law firms like Skadden, Arps, Slate, Meagher & Flom and Sullivan & Cromwell, and private-sector practitioners. The institute also issues regular commentary on macroeconomic indicators tracked by the Bureau of Labor Statistics and the Bureau of Economic Analysis.

Funding and membership

Funding principally derives from membership dues paid by large national and global banks and from sponsorships for conferences and research partnerships. Members include major firms and holding companies such as JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, State Street Corporation, and Capital One Financial. The institute offers tiered membership categories granting access to policy committees, proprietary research, and event programming; it also forms working groups with nonbank partners like payment processors and technology providers such as Visa and Mastercard.

Criticism and controversies

Critics, including advocacy groups like Public Citizen, Consumer Federation of America, and scholars affiliated with University of California, Berkeley and New York University, have argued that the institute represents concentrated industry interests that may oppose stricter oversight enacted after the Global Financial Crisis of 2007–2008. Controversies have arisen around lobbying expenditures disclosed to the Clerk of the House of Representatives and filings with the Senate Office of Public Records, debates over revolving-door employment between regulators and industry, and critiques in media outlets such as The New York Times, The Wall Street Journal, and The Washington Post. Legal challenges and public comment campaigns have targeted the institute's positions during rulemakings at the Federal Reserve System and the Federal Deposit Insurance Corporation.

Category:Banking industry