# Greg Baer

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**Greg Baer** (born February 6, 1962) is an American public policy executive serving as president and CEO of the [Bank Policy Institute](/source/Bank_Policy_Institute) (BPI). He previously served as [Assistant Secretary for Financial Institutions](/source/Assistant_Secretary_for_Financial_Institutions) at the [U.S. Department of the Treasury](/source/United_States_Department_of_the_Treasury) during the [Clinton administration](/source/Clinton_administration) and as Managing Senior Counsel for the [Federal Reserve Board of Governors](/source/Federal_Reserve_Board_of_Governors).

## Early life and education

Baer was born on February 6, 1962, in [Chicago](/source/Chicago), Illinois.[1] He holds a Bachelor of Arts degree with honors in political science and economics from the [University of North Carolina at Chapel Hill](/source/University_of_North_Carolina_at_Chapel_Hill), and received a J.D. *[cum laude](/source/Cum_laude)* from [Harvard Law School](/source/Harvard_Law_School) in 1987. While attending Harvard Law, Baer served as managing editor of the *[Harvard Law Review](/source/Harvard_Law_Review)*.[2]

## Career

Baer began his career as a litigation associate at [Williams & Connolly](/source/Williams_%26_Connolly).[3] He then joined the Legal Division of the [Federal Reserve Board](/source/Federal_Reserve_Board_of_Governors) as senior managing counsel where he was responsible for special projects on behalf of the General Counsel of the Board and the [Federal Open Market Committee](/source/Federal_Open_Market_Committee). He served in this role until 1996, and during that time, Baer received the [Federal Reserve](/source/United_States_Federal_Reserve)'s Special Achievement Award.[4]

In 1996, Baer was appointed Deputy [Assistant Secretary for Financial Institutions](/source/Assistant_Secretary_for_Financial_Institutions) at the [U.S. Department of the Treasury](/source/U.S._Department_of_the_Treasury).[5] In 1999, he was nominated by President Clinton and confirmed by the [United States Senate](/source/United_States_Senate) as Assistant Secretary for Financial Institutions.[6] While at the Treasury Department, Baer coordinated Treasury policy on the [Gramm-Leach-Bliley Act](/source/Gramm-Leach-Bliley_Act) and led the development of Presidential initiatives on financial privacy and consumer protection.[7] He also co-led Treasury efforts to pass digital signature legislation (the [Electronic Signatures in Global and National Commerce](/source/Electronic_Signatures_in_Global_and_National_Commerce_Act) (ESIGN) Act).[8] Baer was appointed by Secretary [Lawrence Summers](/source/Lawrence_Summers) to coordinate Treasury policy on cyberdefense and was the chief government architect in creation of the [FS/ISAC](/source/Financial_Services_Information_Sharing_and_Analysis_Center), a computer defense center.[9]

In 2002, Baer joined [Wilmer, Cutler, & Pickering](/source/Wilmer_Cutler_Pickering_Hale_and_Dorr) as a partner. He left the firm in 2006 to serve as deputy general counsel at [Bank of America](/source/Bank_of_America).[10] While there, Baer played a key role in the bank's dealings with regulators and assisted in the repayment of $45 billion in U.S. [TARP](/source/Troubled_Asset_Relief_Program) assistance.[11] Baer then joined [JPMorgan Chase](/source/JPMorgan_Chase) in 2010 as managing director and general counsel for corporate law, where he oversaw legal support for the firm's corporate functions.[12]

Baer left [JPMorgan Chase](/source/JPMorgan_Chase) in 2015 to become general counsel of the Clearing House Association Payments Company.[13]

## Bank Policy Institute

In July 2018, the Clearing House Association merged with the Financial Services Roundtable, and Baer assumed the role of President and CEO of the newly formed [Bank Policy Institute](/source/Bank_Policy_Institute).[14]

Baer has appeared before Congress on multiple occasions to provide expert testimony on a range of topics, including beneficial ownership reform[15] and supervision and regulation of financial institutions,[16] capital regulation,[17] and anti-money laundering and countering the financing of terrorism laws. [18] He is also regularly quoted by financial news outlets including [CNBC](/source/CNBC),[19] the *[Wall Street Journal](/source/Wall_Street_Journal)*,[20] [Bloomberg](/source/Bloomberg_News),[21] *[Financial Times](/source/Financial_Times)*,[22] *American Banker*,[23] CNN,[24] and *[POLITICO](/source/POLITICO)*.[25]

## Writing

Baer is the author of two books: *The Great Mutual Fund Trap*, co-authored with [Gary Gensler](/source/Gary_Gensler),[26] and *Life: The Odds (And How to Improve Them)*.[27]

## Board affiliations and teaching

Baer serves as an adjunct professor at [Georgetown University Law Center](/source/Georgetown_University_Law_Center), where he teaches courses on financial regulation, commercial and investment banking, and fintech innovation and regulation.[28] He serves on the board of Honors Carolina and previously served on the board of [Enterprise Community Partners](/source/Enterprise_Community_Partners).[29]

## Awards and recognition

While in private practice, Baer was recognized by the *[Washingtonian](/source/Washingtonian_(magazine))* as one of the "Best Lawyers in Washington" and recognized by Chambers USA as one of "America's Leading Lawyers for Business."[30][31] Baer was named by the *[Washingtonian](/source/Washingtonian_(magazine))* as one of "Washington D.C.'s 500 Most Influential People" in 2022,[32] 2023,[33] and 2024.[34]

## Personal life

Baer is married to [Shirley Sachi Sagawa](/source/Shirley_Sagawa), an American public servant.[35] Together, they have three sons, Jackson, Matthew, and Thomas.[36]

## References

1. Office of Public Affairs. ["Treasury Deputy Assistant Secretary Gregory A. Baer Senate Committee on Banking, Housing and Urban Affairs"](https://home.treasury.gov/news/press-releases/ls211). *Treasury.gov*. Department of the Treasury. Retrieved 18 July 2023.

1. ["President Clinton names Gregory A. Baer as Assistant Secretary for Financial Institutions at the Department of Treasury"](https://clintonwhitehouse6.archives.gov/1999/09/1999-09-21-baer-named-assistant-secretary-for-financial-market.html). *Clinton White House Archives*. The White House. Retrieved 2 May 2023.

1. ["Treasury Deputy Assistant Secretary Gregory A. Baer Senate Committee on Banking, Housing and Urban Affairs"](https://home.treasury.gov/news/press-releases/ls211). *Treasury.gov*. U.S. Department of the Treasury. Retrieved 2 May 2023.

1. ["Meet Greg Baer — TCH's Next President"](https://www.pymnts.com/news/2015/tch-names-new-president/). PYMNTS. 14 September 2015. Retrieved 3 May 2023.

1. ["Department of the Treasury"](https://www.govinfo.gov/content/pkg/CDIR-1999-06-15/pdf/CDIR-1999-06-15-DEPARTMENTS-2.pdf). *GovInfo*. United States Government Publishing Office (GPO). Retrieved 11 May 2023.

1. ["Gregory Baer"](https://www.law.georgetown.edu/faculty/gregory-baer/). *Georgetown Law School*. Georgetown Law. Retrieved 3 May 2023.

1. ["A History of the United States Department of the Treasury During the Clinton Administration 1993-2001"](https://www.sechistorical.org/collection/papers/1990/1993_0120_ClintonTreasury.pdf). *Securities & Exchange Commission Historical Society*. Retrieved 11 May 2023.

1. ["Congressional Record"](https://www.congress.gov/congressional-record/volume-146/issue-75/senate-section/article/S5215-2). *Congress.gov*. Library of Congress. Retrieved 11 May 2023.

1. ["Report of the President of the United States on the Status of Federal Critical Infrastructure Protection Activities"](https://irp.fas.org/offdocs/pdd/CIP_2001_CongRept.pdf). Federation of American Scientists. Retrieved 18 July 2023.

1. Neely, Rebecca (21 September 2010). ["Greg Baer, J.P. Morgan Chase & Co."](https://www.lawcrossing.com/article/5838/Greg-Baer-J-P-Morgan-Chase-Co/). Law Crossing. Retrieved 3 May 2023.

1. Fitzpatrick, Dan (9 September 2010). ["J.P. Morgan Hires Baer From BofA"](https://www.wsj.com/articles/SB10001424052748704362404575480231397114958). Wall Street Journal. Retrieved 11 May 2023.

1. Blackwell, Rob (8 September 2010). ["JPM Chase Hires B of A's Gregory Baer"](https://www.americanbanker.com/jpm-chase-hires-bofa-greg-baer-1025302-1.html). American Banker. Retrieved 3 May 2023.

1. ["MOVES-Greg Baer named president of the Clearing House Association"](https://www.reuters.com/article/theclearinghouse-moves-gregbaer/moves-greg-baer-named-president-of-the-clearing-house-association-idUSL4N11H55U20150911). Reuters. 11 September 2015. Retrieved 3 May 2023.

1. Clozel, Lalita (16 July 2018). ["Big Banks Reshape Lobbying Game"](https://www.wsj.com/articles/big-banks-reshape-lobbying-game-1531733401). Wall Street Journal. Retrieved 3 May 2023.

1. ["Outside Perspectives on the Collection of Beneficial Ownership Information"](https://www.banking.senate.gov/hearings/outside-perspectives-on-the-collection-of-beneficial-ownership-information). *U.S. Senate Committee on Banking, Housing, and Urban Affairs*. Retrieved 30 May 2023.

1. Baer, Greg. ["Testimony before the Senate Banking Committee"](https://www.banking.senate.gov/imo/media/doc/Baer%20Testimony%204-30-19.pdf). *U.S. Senate Committee on Banking, Housing, and Urban Affairs*. Retrieved 30 May 2023.

1. ["Examining Capital Regimes for Financial Institutions"](https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=403722). *Financial Services Committee*. 2018-07-17. Retrieved 2024-05-18.

1. ["U.S. AML/CFT System is Broken Says TCH Association President Greg Baer"](https://www.theclearinghouse.org/advocacy/articles/2017/06/20170628-greg-baer-testimony-on-aml). *The Clearing House*. 2017-06-20. Retrieved 2024-05-18.

1. Rosenbaum, Eric (28 January 2021). ["Banking regulator pauses rule that enraged Wall Street and climate investors"](https://www.cnbc.com/2021/01/28/occ-pauses-bank-rule-that-enraged-wall-street-climate-investors-.html). CNBC. Retrieved 30 May 2023.

1. Ackerman, Andrew (26 May 2022). ["Digital Dollar Could Coexist With Stablecoins, Fed Vice Chairwoman Says"](https://www.wsj.com/articles/feds-brainard-to-tell-panel-digital-dollar-could-coexist-with-stablecoins-11653570037?mod=pls_whats_news_us_business_f). Wall Street Journal. Retrieved 30 May 2023.

1. Hamilton, Jesse & Schmidt, Robert (4 December 2020). ["Wall Street Poised for Win on Money-Laundering Bill in Lame-Duck"](https://www.bloomberg.com/news/articles/2020-12-04/wall-street-poised-for-win-on-money-laundering-bill-in-lame-duck). Bloomberg. Retrieved 30 May 2023.

1. Baer, Greg (25 May 2020). ["A ban on US banks issuing dividends would be bad policy"](https://www.ft.com/content/182e8048-09f0-45bc-8365-0c0ba63a92ac). *Financial Times*. Retrieved 2024-05-18.

1. Sanneh, Ebrima Santos & Williams, Claire (2024-01-17). ["Walls are closing in on the Basel capital reforms"](https://www.americanbanker.com/news/walls-are-closing-in-on-the-basel-capital-reforms). *American Banker*. Retrieved 2024-05-18.

1. Egan, Matt (2024-03-05). ["Credit card late fees capped at $8 as part of Biden administration crackdown on junk fees"](https://www.cnn.com/2024/03/05/investing/credit-card-late-fees-biden/index.html). *CNN*. Retrieved 2024-05-18.

1. ["The big reason banks despise the Fed's capital rule"](https://www.politico.com/newsletters/morning-money/2024/01/17/the-big-reason-banks-despise-the-feds-capital-rule-00136009). *POLITICO*. 2024-01-17. Retrieved 2024-05-18.

1. Baer, Gregory & Gensler, Gary (2002). [*The Great Mutual Fund Trap*](https://www.penguinrandomhouse.ca/books/7129/the-great-mutual-fund-trap-by-gregory-baer-and-gary-gensler/9780767910736/excerpt). Random House.

1. Baer, Gregory (2003). [*Life: The Odds: And How to Improve Them*](https://www.goodreads.com/en/book/show/1474498.Life). Penguin-Putnam. Retrieved 11 May 2023.

1. ["Gregory Baer"](https://www.law.georgetown.edu/faculty/gregory-baer/). *Georgetown Law*. Retrieved 2024-05-18.

1. ["WHF Public Policy Lunch: Greg Baer, President & CEO, Bank Policy Institute"](https://whfdc.org/events/EventDetails.aspx?id=1556777&group=). *whfdc.org*. Women in Housing & Finance, Inc. Retrieved 11 May 2023.

1. ["William McLucas, Jamie Gorelick and Seth Waxman Named Among "Top 30 Lawyers" in Washington, DC by Washingtonian Magazine"](https://www.wilmerhale.com/en/insights/news/william-mclucas-jamie-gorelick-and-seth-waxman-named-among-top-30-lawyers-in-washington-dc-by-washingtonian-magazine-november-24-2004). *Wilmer Hale*. 24 November 2004. Retrieved 18 July 2023.

1. ["Chambers USA Names 88 WilmerHale Lawyers as Leaders in Their Fields for 2006"](https://www.wilmerhale.com/insights/news/chambers-usa-names-88-wilmerhale-lawyers-as-leaders-in-their-fields-for-2006-january-26-2006). *Wilmer Hale*. 26 January 2006. Retrieved 18 July 2023.

1. ["Washington DC's 500 Most Influential People"](https://washingtonian.com/2022/05/03/washington-dcs-500-most-influential-people/). Washingtonian. 3 May 2022. Retrieved 18 July 2023.

1. ["Washington DC's 500 Most Influential People of 2023"](https://washingtonian.com/2023/04/27/washington-dcs-500-most-influential-people-of-2023/). *Washingtonian*. 2023-04-27. Retrieved 2024-05-18.

1. ["Washington DC's 500 Most Influential People of 2024"](https://washingtonian.com/2024/05/02/washington-dcs-500-most-influential-people-of-2024/). *Washingtonian*. 2024-05-02. Retrieved 2024-05-18.

1. ["Shirley S. Sagawa Weds G. A. Baer"](https://www.nytimes.com/1989/10/08/style/shirley-s-sagawa-weds-g-a-baer.html). *The New York Times*. 1989-10-08. [ISSN 0362-4331](https://www.worldcat.org/issn/0362-4331). Retrieved 2024-08-13.

1. ["TREASURY DEPUTY ASSISTANT SECRETARY GREGORY A. BAER SENATE COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS"](https://home.treasury.gov/news/press-releases/ls211). *U.S. Department of the Treasury*. 2024-08-07. Retrieved 2024-08-13.

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