Title: Minority Bank Advisory Committee Act of 2018
Policy area: Finance and Financial Sector

Summary:
Minority Bank Advisory Committee Act of 2018
This bill establishes Minority Depository Institutions Advisory Committees at the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6186 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 6186

 To establish Minority Depository Institutions Advisory Committees, to 
     provide advice related to preserving and encouraging minority 
            depository institutions, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 21, 2018

 Mr. Meeks (for himself, Ms. Maxine Waters of California, Mrs. Beatty, 
and Mr. Evans) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To establish Minority Depository Institutions Advisory Committees, to 
     provide advice related to preserving and encouraging minority 
            depository institutions, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Minority Bank Advisory Committee Act 
of 2018''.

SEC. 2. MINORITY DEPOSITORY INSTITUTIONS ADVISORY COMMITTEES.

    (a) Establishment.--The Board of Governors of the Federal Reserve 
System, the Comptroller of the Currency, and the Federal Deposit 
Insurance Corporation shall each establish an advisory committee to be 
called the ``Minority Depository Institutions Advisory Committee''.
    (b) Duties.--Each Minority Depository Institutions Advisory 
Committee shall provide advice to the respective agency on meeting the 
goals established by section 308 of the Financial Institutions Reform, 
Recovery, and Enforcement Act of 1989 (12 U.S.C. 1463 note) to preserve 
the present number of minority depository institutions, preserve the 
minority character of minority owned institutions in cases involving 
mergers or acquisitions, provide technical assistance, and encourage 
the creation of new minority depository institutions. The scope of the 
Minority Depository Institutions Advisory Committees' work shall 
include an assessment of the current condition of minority depository 
institutions, what regulatory changes or other steps the respective 
agencies may be able to take to fulfill the mandate of such section 
308, and other issues of concern to minority depository institutions.
    (c) Membership.--Each Minority Depository Institutions Advisory 
Committee shall consist of no more than 10 members, who--
            (1) shall serve for one two-year term;
            (2) shall serve as a representative of a depository 
        institution with respect to which the respective agency is the 
        appropriate Federal banking agency; and
            (3) shall not receive pay by reason of their service on the 
        advisory committee, but may receive travel or transportation 
        expenses in accordance with section 5703 of title 3, United 
        States Code.
    (d) No Termination of Advisory Committees.--The termination 
requirements under section 14 of the Federal Advisory Committee Act (5 
U.S.C. app.) shall not apply to an advisory committee established 
pursuant to this section.
    (e) Definitions.--For purposes of this section:
            (1) Minority depository institution.--The term ``minority 
        depository institution'' has the meaning given that term under 
        section 308 of the Financial Institutions Reform, Recovery, and 
        Enforcement Act of 1989.
            (2) Other definitions.--The terms ``appropriate Federal 
        banking agency'' and ``depository institution'' have the 
        meaning given those terms, respectively, under section 3 of the 
        Federal Deposit Insurance Act.
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