An improved torque converter that results in greater fuel efficiency and more horsepower with a lower failure rate. The improved torque converter has a greater lock-up surface area than an original equipment torque converter to reduce slippage. The lock-up surface area can be provided from a wider friction lining material, a floating clutch, and/or a floating clutch plate. An improved stator contributes to fuel efficiency. In one aspect, the torque converter has a novel thrust washer that has parabolic shaped grooves to facilitate lubrication and reduce failure of the bearing thrust washer. In one aspect the torque converter uses brazed blades to reduce vibration and strengthen the blades to make them more resistant to distortion and failure.