(J) The head of a nonprofit organization 
for credit unions that serves members of the 
Armed Forces and veterans. 
(2) DESIGNEES.—A designee of a Committee 
member shall, at a minimum, be appointed to a Sen-
ior Executive Service position (as defined in section 
3132(a)(2) of title 5). 
(3) MEETINGS.— 
(A) IN GENERAL.—Not later than 30 days 
after the date of the enactment of this section, 
the Committee shall hold its first meeting. 
Thereafter, the Committee shall meet semi-
annually or at the call of a majority of the 
members of the Committee. 
(B) QUORUM.—Seven members of the 
Committee shall constitute a quorum, but a 
lesser number may hold hearings. 
(c) DUTIES.—The Committee shall— 
(1) review the Military Banking Programs and 
any relevant rules relating to the Military Banking 
Programs; 
(2) not later than 180 days after the date of 
the enactment of this Act, and annually thereafter 
until the termination date specified in subsection 
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(g), submit to Congress and the Secretary of De-
fense a report on— 
(A) the organization, implementation, and 
overall effectiveness of the Military Banking 
Programs and make recommendations for im-
provements to the Military Banking Programs; 
(B) the United States and foreign laws af-
fecting the delivery of financial services and 
products to a member of the Armed Forces and 
any dependents of such member; 
(C) whether the terms and conditions es-
tablished in all Department of Defense con-
tracts or other agreements with any insured de-
pository institution or insured credit union de-
livering financial products or services to such 
members and dependents are sufficient to pro-
mote the safety, soundness, efficiency, and ef-
fectiveness of such insured depository institu-
tions and insured credit unions; and 
(D) the obstacles and incentives for in-
sured depository institutions or insured credit 
unions to deliver financial products or services 
to such members and dependents on and out-
side military installations. 
(d) POWERS OF THE COMMITTEE.— 
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(1) HEARINGS AND SESSIONS.—For purposes 
of carrying out the duties referred to under sub-
section (c), the Committee or, with authorization of 
the Committee, any subcommittee or member there-
of, may hold such hearings, sit and act at such times 
and places, take such testimony, and receive such 
evidence as is appropriate. 
(2) POWERS OF COMMITTEE.—The Committee 
may secure directly from any department or agency 
of the United States such information necessary to 
carry out such duties. Upon request of the Chair-
man of the Committee, the head of such department 
or agency shall furnish such information to the 
Committee. 
(e) ADMINISTRATIVE PROVISIONS.— 
(1) STAFF OF FEDERAL AGENCIES.—Upon re-
quest of the Committee, the head of any Federal de-
partment or agency may detail, on a nonreimburs-
able basis, any of the personnel of such department 
or agency to assist the Committee in carrying out 
the duties referred to under subsection (c). Such de-
tail shall be without interruption or loss of civil serv-
ice status or privilege to the personnel. 
(2) EXPERTS AND CONSULTANTS.—The Com-
mittee may procure temporary and intermittent serv-
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ices under section 3109(b) of title 5, United States 
Code, but at rates for individuals not to exceed the 
daily equivalent of the maximum annual rate of 
basic pay for GS–15 of the General Schedule. 
(3) COMPENSATION AND TRAVEL EXPENSES.— 
A member of the Committee may not be paid for 
service performed as a member of the Committee. 
However, members of the Committee may receive 
travel expenses, including per diem in lieu of subsist-
ence, in accordance with applicable provisions under 
subchapter I of chapter 57 of title 5, United States 
Code. 
(f) APPLICABILITY OF FACA.—The Committee shall 
be subject to the provisions of chapter 10 of title 5, United 
States Code, except that the requirements for termination 
in section 1013 of such title shall not apply to the Com-
mittee. 
(g) TERMINATION.—The Committee established 
under this section shall terminate five years after the date 
of the enactment of this Act. 
(h) DEFINITIONS.—In this section: 
(1) The term ‘‘insured depository institution’’ 
has the meaning given in section 3 of the Federal 
Deposit Insurance Act (12 U.S.C. 1813). 
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(2) The term ‘‘insured credit union’’ has the 
meaning given in section 101 of the Federal Credit 
Union Act (12 U.S.C. 1752). 
(3) The term ‘‘financial product or service’’ has 
the meaning given in section 1002 of the Consumer 
Financial Protection Act of 2010 (12 U.S.C. 5481). 
(4) The term ‘‘Military Banking Programs’’ 
means— 
(A) the Overseas Military Banking Pro-
gram of the Department of Defense (or a simi-
lar successor program); and 
(B) any program operated by the Secretary 
of Defense that provides financial products or 
services to a member of the Armed Forces and 
any dependents of such member. 
Æ 
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