SEC. 2. ASSISTANT SECRETARY FOR COMMUNITY FINAN-
CIAL INSTITUTIONS. 
(a) ESTABLISHED.—The 1st sentence of section 
301(e) of title 31, United States Code, is amended— 
(1) by striking ‘‘10’’ and inserting ‘‘11’’; and 
(2) by inserting ‘‘, 1 of whom shall be des-
ignated by the President as the Assistant Secretary 
for Community Financial Institutions’’ before the 
period at the end. 
(b) ADDITIONAL DUTIES.—Subchapter I of chapter 
3 of title 31, United States Code, is amended by inserting 
after section 301 the following new section: 
‘‘§ 301A. Assistant Secretary for Community Financial 
Institutions 
‘‘(a) IN GENERAL.—In addition to other duties and 
powers prescribed the Secretary, the Assistant Secretary 
for Community Financial Institutions designated under 
section 301(e) shall— 
‘‘(1) advise the Secretary on the impact of poli-
cies and regulations of the Department on commu-
nity financial institutions; and 
‘‘(2) provide guidance to the Secretary to en-
sure that the policies and regulations of the Depart-
ment strengthen community financial institutions.’’. 
(c) CLERICAL AMENDMENT.—The table of sections 
for subchapter I of chapter 3 of title 31, United States 
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Code, is amended by inserting after the item relating to 
section 301 the following new item: 
‘‘301A. Assistant Secretary for Community Financial Institutions.’’. 
SEC. 3. OFFICE OF OMBUDSMAN FOR COMMUNITY FINAN-
CIAL INSTITUTIONS. 
Section 301A of title 31, United States Code (as 
added by section 2), is amended by adding at the end the 
following new subsections: 
‘‘(b) OFFICE OF OMBUDSMAN FOR COMMUNITY FI-
NANCIAL INSTITUTIONS.— 
‘‘(1) 
ESTABLISHMENT.—The 
Secretary 
of 
Treasury shall establish an Office of Ombudsman 
for Community Financial Institutions (hereafter in 
this subsection referred to as the ‘Ombudsman Of-
fice’), the head of which shall be the Assistant Sec-
retary for Community Financial Institutions. 
‘‘(2) FUNCTIONS.—The functions of the Assist-
ant Secretary for Community Financial Institutions 
as the head of the Ombudsman Office shall be to 
provide assistance to and answer questions from 
community financial institutions regarding policies 
of the Secretary and their effects on community fi-
nancial institutions. 
‘‘(3) ADDITIONAL
FUNCTIONS
RELATING
TO 
TARP
AND
P–PIP.—The Assistant Secretary for 
Community Financial Institutions as the head of the 
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Ombudsman Office shall also provide assistance to 
community financial institutions regarding— 
‘‘(A) applications and the application proc-
ess for Troubled Asset Relief Program funds; 
‘‘(B) sales of assets to or purchase of as-
sets from the Public-Private Investment Pro-
gram for Legacy Assets established by the Sec-
retary of the Treasury, in conjunction with the 
Board of Governors of the Federal Reserve Sys-
tem and the Federal Deposit Insurance Cor-
poration; 
‘‘(C) status of pending applications for 
Troubled Asset Relief Program funds or sales 
to or purchases from the Public-Private Invest-
ment Program for Legacy Assets; and 
‘‘(D) compliance with regulations associ-
ated with acceptance of Troubled Asset Relief 
Program funds or sales to or purchases from 
the Public-Private Investment Program for 
Legacy Assets. 
‘‘(E) 
TOLL-FREE
TELEPHONE
NUM-
BERS.—The Assistant Secretary shall establish 
and maintain toll-free telephone assistance 
phone numbers as follows: 
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‘‘(i) A telephone number shall be 
made available for community financial in-
stitution general inquiries 8 hours a day 
and 7 days a week. 
‘‘(ii) A telephone number shall be 
made available for community financial in-
stitution inquiries about the Troubled 
Asset Relief Program 8 hours a day and 7 
days a week.’’. 
Æ 
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