(2) DEPOSITORY INSTITUTION.—The term ‘‘de-
pository institution’’ has the meaning given that 
term under section 3 of the Federal Deposit Insur-
ance Act (12 U.S.C. 1813). 
(3) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury. 
(b) ESTABLISHMENT AND FUNCTIONS.— 
(1) ESTABLISHMENT.—There is established 
within the Department of the Treasury (hereafter in 
this section referred to as the ‘‘Department’’) the 
Community Bank Advisory Committee (hereafter in 
this section referred to as the ‘‘Committee’’). 
(2) FUNCTIONS.—The Committee shall provide 
the Department with advice on the Department’s ef-
forts regarding financial institutions legislation and 
regulation, legislation affecting Federal departments 
and agencies that regulate or insure financial insti-
tutions, and securities markets legislation and regu-
lation, as such efforts relate to community banks. 
(c) MEMBERSHIP.— 
(1) MEMBER
APPOINTMENT.—Not later than 
12 months after the date of the enactment of this 
Act, the Secretary shall appoint not fewer than 15, 
and not more than 20, members to the Committee. 
In appointing such members, the Secretary shall— 
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(A) include members representing commu-
nity banks that are not affiliates of depository 
institutions with total assets of more than 
$10,000,000,000; 
(B) include members representing commu-
nity banks of different charter types, asset 
sizes, geographic areas, and ownership types; 
(C) give strong consideration to members 
representing community banks predominantly 
serving traditionally rural and underserved 
communities and populations and their inter-
ests; and 
(D) make such appointments without re-
gard to party affiliation. 
(2) TERM.—Each member of the Committee 
shall serve for a term of 2 years, which is not eligi-
ble for renewal. 
(3) MEMBERS
NOT
DEPARTMENT
EMPLOY-
EES.—Members of the Committee shall not be treat-
ed as employees or agents of the Department solely 
because of membership on the Committee. 
(4) RESIGNATION.—Any member may resign at 
any time by giving notice to the Department. The 
Secretary shall appoint persons to fill vacancies on 
the Committee as the vacancies occur. 
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(d) CHAIRMAN; VICE CHAIRMAN; SECRETARY; AS-
SISTANT SECRETARY.— 
(1) IN GENERAL.—The members of the Com-
mittee shall elect, from among the members of the 
Committee— 
(A) a chairman; 
(B) a vice chairman; 
(C) a secretary; and 
(D) an assistant secretary. 
(2) TERM.—Each member elected under para-
graph (1) shall serve for a term of 2 years in the 
capacity for which the member was elected under 
paragraph (1). 
(e) MEETINGS.— 
(1) FREQUENCY
OF
MEETINGS.—The Com-
mittee shall meet— 
(A) not less frequently than 4 times annu-
ally, at the call of the chairman of the Com-
mittee; and 
(B) from time to time, at the call of the 
Department. 
(2) NOTICE.—The chairman of the Committee 
shall give the members of the Committee written no-
tice of each meeting, not later than 4 weeks before 
the date of the meeting. 
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(3) LOCATION.—At least 2 of the meetings each 
year shall take place in person at the Department’s 
headquarters in the District of Columbia. Partici-
pants should make every effort within reason to at-
tend these meetings in person. 
(4) AGENDA.—Each meeting shall be conducted 
in accordance with an agenda formulated by the 
chairman of the Committee, with input from other 
Committee members. 
(5) 
DEPARTMENT
REPRESENTATION.—Each 
meeting of the Committee shall be attended by the 
Secretary or the Secretary’s designee. 
(f) COMPENSATION AND TRAVEL EXPENSES.—Each 
member of the Committee who is not a full-time employee 
of the United States shall— 
(1) be entitled to receive compensation at a rate 
not to exceed the daily equivalent of the annual rate 
of basic pay in effect for a position at level V of the 
Executive Schedule under section 5316 of title 5, 
United States Code, for each day during which the 
member is engaged in the actual performance of the 
duties of the Committee; and 
(2) while away from the home or regular place 
of business of the member in the performance of 
services for the Committee, be allowed travel ex-
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penses, including per diem in lieu of subsistence, in 
the same manner as persons employed intermittently 
in the Government service are allowed expenses 
under section 5703 of title 5, United States Code. 
(g) STAFF.—The Department shall make available to 
the Committee such staff as the chairman of the Com-
mittee determines are necessary to carry out the functions 
of the Committee. 
(h) REVIEW
BY DEPARTMENT.—The Department 
shall— 
(1) review the findings and recommendations of 
the Committee; and 
(2) each time the Committee submits a finding 
or recommendation to the Department, promptly, 
but no more than 60 days after submission, issue a 
public statement, a copy of which shall be delivered 
to Committee members— 
(A) assessing the finding or recommenda-
tion of the Committee; and 
(B) disclosing the action, if any, the De-
partment intends to take with respect to the 
finding or recommendation. 
SEC. 3. CREDIT UNION ADVISORY COMMITTEE. 
(a) DEFINITIONS.—For purposes of this section: 
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(1) CREDIT UNION.—The term ‘‘credit union’’ 
means a Federal credit union or a State credit 
union, as such terms are defined, respectively, under 
section 101 of the Federal Credit Union Act (12 
U.S.C. 1752). 
(2) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury. 
(b) ESTABLISHMENT AND FUNCTIONS.— 
(1) ESTABLISHMENT.—There is established 
within the Department of the Treasury (hereafter in 
this section referred to as the ‘‘Department’’) the 
Credit Union Advisory Committee (hereafter in this 
section referred to as the ‘‘Committee’’). 
(2) FUNCTIONS.—The Committee shall provide 
the Department with advice on the Department’s ef-
forts regarding financial institutions legislation and 
regulation, legislation affecting Federal departments 
and agencies that regulate or insure financial insti-
tutions, and securities markets legislation and regu-
lation, as such efforts relate to credit unions. 
(c) MEMBERSHIP.— 
(1) MEMBER
APPOINTMENT.—Not later than 
12 months after the date of the enactment of this 
Act, the Secretary shall appoint not fewer than 15, 
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and not more than 20, members to the Committee. 
In appointing such members, the Secretary shall— 
(A) include members representing credit 
unions with total assets of $10,000,000,000 or 
less; 
(B) include members representing credit 
unions that are not affiliates of credit unions 
with 
total 
assets 
of 
more 
than 
$10,000,000,000; 
(C) include members representing credit 
unions of different charter types, asset sizes, 
geographic areas, and ownership types; 
(D) give strong consideration to members 
representing credit unions predominantly serv-
ing traditionally rural and underserved commu-
nities and populations and their interests; and 
(E) make such appointments without re-
gard to party affiliation. 
(2) TERM.—Each member of the Committee 
shall serve for a term of 2 years, which is not eligi-
ble for renewal. 
(3) MEMBERS
NOT
DEPARTMENT
EMPLOY-
EES.—Members of the Committee shall not be treat-
ed as employees or agents of the Department solely 
because of membership on the Committee. 
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(4) RESIGNATION.—Any member may resign at 
any time by giving notice to the Department. The 
Secretary shall appoint persons to fill vacancies on 
the Committee as the vacancies occur. 
(d) CHAIRMAN; VICE CHAIRMAN; SECRETARY; AS-
SISTANT SECRETARY.— 
(1) IN GENERAL.—The members of the Com-
mittee shall elect, from among the members of the 
Committee— 
(A) a chairman; 
(B) a vice chairman; 
(C) a secretary; and 
(D) an assistant secretary. 
(2) TERM.—Each member elected under para-
graph (1) shall serve for a term of 2 years in the 
capacity for which the member was elected under 
paragraph (1). 
(e) MEETINGS.— 
(1) FREQUENCY
OF
MEETINGS.—The Com-
mittee shall meet— 
(A) not less frequently than 4 times annu-
ally, at the call of the chairman of the Com-
mittee; and 
(B) from time to time, at the call of the 
Department. 
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(2) NOTICE.—The chairman of the Committee 
shall give the members of the Committee written no-
tice of each meeting, not later than 4 weeks before 
the date of the meeting. 
(3) LOCATION.—At least 2 of the meetings each 
year shall take place in person at the Department’s 
headquarters in the District of Columbia. Partici-
pants should make every effort within reason to at-
tend these meetings in person. 
(4) AGENDA.—Each meeting shall be conducted 
in accordance with an agenda formulated by the 
chairman of the Committee, with input from other 
Committee members. 
(5) 
DEPARTMENT
REPRESENTATION.—Each 
meeting of the Committee shall be attended by the 
Secretary or the Secretary’s designee. 
(f) COMPENSATION AND TRAVEL EXPENSES.—Each 
member of the Committee who is not a full-time employee 
of the United States shall— 
(1) be entitled to receive compensation at a rate 
not to exceed the daily equivalent of the annual rate 
of basic pay in effect for a position at level V of the 
Executive Schedule under section 5316 of title 5, 
United States Code, for each day during which the 
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member is engaged in the actual performance of the 
duties of the Committee; and 
(2) while away from the home or regular place 
of business of the member in the performance of 
services for the Committee, be allowed travel ex-
penses, including per diem in lieu of subsistence, in 
the same manner as persons employed intermittently 
in the Government service are allowed expenses 
under section 5703 of title 5, United States Code. 
(g) STAFF.—The Department shall make available to 
the Committee such staff as the chairman of the Com-
mittee determines are necessary to carry out the functions 
of the Committee. 
(h) REVIEW
BY DEPARTMENT.—The Department 
shall— 
(1) review the findings and recommendations of 
the Committee; and 
(2) each time the Committee submits a finding 
or recommendation to the Department, promptly, 
but no more than 60 days after submission, issue a 
public statement, a copy of which shall be delivered 
to Committee members— 
(A) assessing the finding or recommenda-
tion of the Committee; and 
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(B) disclosing the action, if any, the De-
partment intends to take with respect to the 
finding or recommendation. 
Æ 
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