On March 13, the Financial Services Roundtable and The Clearing House announced plans to merge their non-partisan advocacy and research arms.
TCH Association President Greg Baer will be chief executive officer for the new organization.
The Financial Services Roundtable is an advocacy organization for the American financial services industry. FSR members include leading banking, insurance, asset management, finance and credit card companies.
The Clearing House is a banking association and payments company that is owned by the largest commercial banks. It dates back to 1853. The Clearing House Association is a nonpartisan organization that engages in research, analysis, advocacy and litigation focused on financial regulation that supports a safe, sound and competitive banking system.
“Throughout the last decade, The Clearing House Association has served as an effective advocate for the banking industry through our unique approach of applying data-driven analysis, research and thought leadership,” TCH CEO Jim Aramanda said in a statement. “It makes sense to combine the capabilities of two organizations focused on the same goals to create a premier financial services trade association, while The Clearing House continues in its mission of payments innovation and operating core payment systems for the banking industry.”
The combination of these two organizations and their respective research and advocacy strengths “further advances FSR’s new strategic focus on banking and payment policies that spur economic growth, increase jobs, modernize cyber-security policy, and improve financial security for more Americans," FSR CEO Tim Pawlenty said.
Pawlenty previously announced plans to leave FSR. Chris Feeney, president of FSR's technology policy division will assume interim responsibility for FSR until Baer becomes CEO.