,,ib ,union ,calendar ,no4 #deh #aaith  
,,congress  #b;d ,session  ,h4 ,r4 #feed
 ,report ,no4 #aai-ecc ,,in ,,the       
,,house ,,of ,,representatives          
,december #aj1 #bjbe,ms4 ,de ,la ,cruz  
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,february #be1    
#bjbf;,additional sponsors3 ,mr4        
,williams of ,texas1 ,mr4 ,sessions1 and
 ,mr4 ,nunn of ,iowa  ,february #be1    
#bjbf,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed,strike
 out all after the enacting clause and  
insert the part printed in italic,for   
text of introduced bill1 see copy of    
bill as introduced on ,december #aj1    
#bjbe  ,a ,,bill  ,to amend the ,federal
 ,reserve ,act to specify additional    
responsibilities of the member of the   
,board of ,governors of the ,federal    
,reserve ,system who was appointed as   
the member with experience working in or

 supervising community banks1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,community     
,bank ,representation ,act4  #b4        
,community bank member of the ,board of 
,governors  7a7 ,federal ,reserve ,act  
,section #aj of the ,federal ,reserve   
,act is amended-- 7#a7 in the first     
undesignated paragraph 7#ab ,u4,s4,c4   
#bda71 by striking having less than     
#aj1jjj1jjj1jjj in total assets2  7#b7  
in the second undesignated paragraph    
7#ab ,u4,s4,c4 #bdb71 by inserting after
 regulation of such firms4 the          
following3 ,the ,chairman shall select  
one member of the ,board with           
demonstrated primary experience working 
in or supervising community banks to1 in
 consultation with the ,vice ,chairman  
for ,supervision and any other member of
 the ,board with demonstrated primary   
experience working in or supervising    
community banks1 develop policy         
recommendations for the ,board regarding
 supervision and regulation of banking  

organizations supervised by the ,board  
having less than #ag1jjj1jjj1jjj in     
total assets1 and to oversee the        
supervision and regulation of such      
banking organizations in consultation   
with the ,vice ,chairman for            
,supervision and any other member of the
 ,board with demonstrated primary       
experience working in or supervising    
community banks42  7#c7 in paragraph    
7#ab7 7#ab ,u4,s4,c4 #bdg;b7-- 7,a7 by  
striking ,the ,vice ,chairman for       
,supervision and inserting the          
following3  7,a7 ,vice ,chairman for    
,supervision ,the ,vice ,chairman for   
,supervision  2  7,b7 by striking and at
 and inserting at2 and  7,c7 by adding  
at the end the following3  7,b7         
,community bank member ,the member of   
the ,board with demonstrated primary    
experience working in or supervising    
community banks selected by the         
,chairman to develop policy             
recommendations for the ,board regarding
 supervision and regulation of banking  

organizations supervised by the ,board  
having less than #ag1jjj1jjj1jjj in     
total assets1 and to oversee the        
supervision and regulation of such      
banking organizations1 if different than
 the ,vice ,chairman for ,supervision1  
shall appear before the ,committee on   
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate and the ,committee on    
,financial ,services of the ,house of   
,representatives at semi-annual hearings
 regarding the efforts1 activities1     
objectives1 and plans of the ,board with
 respect to the conduct of supervision  
and regulation of banking organizations 
supervised by the ,board having less    
than #ag1jjj1jjj1jjj in total assets4  2
 and  7#d7 by adding at the end the     
following3  7#ac7 ,member of the ,board 
for community banks annual threshold    
adjustment  7,a7 ,in general ,at the end
 of each year for which the nominal     
gross domestic product of the ,united   
,states increases 7a covered year71 the 
,board shall adjust each dollar figure  

described in the second undesignated    
paragraph of this section1 paragraph    
7#ab77;,b7 of this section1 and section 
#ajjd7;a77#c7 of the ,federal ,financial
 ,institutions ,examination ,council    
,act of #aigh by a percentage equal to  
the percentage increase 7if any7        
between-- 7i7 the nominal gross domestic
 product of the ,united ,states for the 
year1 during the preceding #e years1    
with respect to which the nominal gross 
domestic product of the ,united ,states 
was the highest2 and  7ii7 the nominal  
gross domestic product of the ,united   
,states for the covered year4  7,b7     
,determination of ,,gdp ,in this        
paragraph1 the ,board shall use nominal 
gross domestic product statistics       
determined by the ,bureau of ,economic  
,analysis4  4  7b7 ,federal ,financial  
,institutions ,examination ,council ,act
 of #aigh ,section #ajjd7;a77#c7 of the 
,federal ,financial ,institutions       
,examination ,council ,act of #aigh 7#ab
 ,u4,s4,c4 #ccjc7;a77#c77 is amended by 

adding at the end the following3 and    
such ,governor shall consult with the   
,governor with demonstrated primary     
experience working in or supervising    
community banks selected by the         
,chairman of the ,board to develop      
policy recommendations for the ,board   
regarding supervision and regulation of 
banking organizations supervised by the 
,board having less than #ag1jjj1jjj1jjj 
in total assets1 and to oversee the     
supervision and regulation of such      
banking organizations14  ,february #be1 
#bjbf,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed