The organization was formed in July 2018 following the merger of the Financial Services Roundtable and the Clearing House Association.

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.

[5] In July 2018, Financial Services Roundtable merged with the Clearing House Association to form the Bank Policy Institute.

[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.

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.