The Clearing House and the Financial Services Roundtable, trade organizations together representing 48 of the nation's largest banks, have joined forces to advocate for regulatory reform in the financial services sector. In a July 16 announcement to launch the Bank Policy Institute, the new organization's CEO, Greg Baer, said, "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." Brian Moynihan, Bank of America CEO, will serve as BPI's chairman.