Sec. 210. STUDY AND REPORT ON THE UNITED STATES FINANCIAL SERVICES SYSTEM
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## SEC. 210 STUDY AND REPORT ON THE UNITED STATES FINANCIAL SERVICES SYSTEM **[**[12 U.S.C. 1811](/us/usc/t12/s1811) nt**]** ###
(a)Study ####
(1)In general The Secretary of the Treasury (hereafter in this section referred to as the “Secretary”) shall, after consultation with the Advisory Commission on Financial Services established under subsection (b), and consultation in accordance with paragraph (3), conduct a study of matters relating to the strengths and weaknesses of the United States financial services system in meeting the needs of the system's users, including the needs of— #####
(A)individual consumers and households; #####
(B)communities; #####
(C)agriculture; #####
(D)small-, medium-, and large-sized businesses; #####
(E)governmental and nonprofit entities; and #####
(F)exporters and other users of international financial services. ####
(2)Matters studied The study required under paragraph
(1)shall include consideration of— #####
(A)the changes underway in the national and international economies and the financial services industry, and how those changes affect the financial services system's ability to efficiently meet the needs of the national economy and the system's users during the next 10 years and beyond; and #####
(B)the adequacy of existing statutes and regulations, and the existing regulatory structure, to meet the needs of the financial services system's users effectively, efficiently, and without unfair, anticompetitive, or discriminatory practices. ####
(3)Consultation Consultation in accordance with this paragraph means consultation with— #####
(A)the Board of Governors of the Federal Reserve System; #####
(B)the Commodity Futures Trading Commission; #####
(C)the Comptroller of the Currency; #####
(D)the Director of the Office of Thrift Supervision; #####
(E)the Federal Deposit Insurance Corporation; #####
(F)the Secretary of the Department of Housing and Urban Development; #####
(G)the Securities and Exchange Commission; #####
(H)the Director of the Congressional Budget Office; and #####
(I)the Comptroller General of the United States. ###
(b)Advisory Commission on Financial Services ####
(1)Establishment There is established the Advisory Commission on Financial Services (hereafter in this section referred to as the “Advisory Commission”). ####
(2)Membership of commission The Advisory Commission— #####
(A)shall consist of not less than 9 nor more than 14 members appointed by the Secretary from among individuals— ######
(i)who are— ######
(I)users of the financial services system; or ######
(II)experts in finance or on the financial services system; and ######
(ii)who are not employees of the Federal Government; and #####
(B)shall include representatives of business, agriculture, and consumers. ####
(3)Chairperson The Secretary or the Secretary's designee shall serve as Chairperson of the Advisory Commission. ####
(4)Travel expenses Members of the Advisory Commission shall be allowed travel expenses, including per diem in lieu of subsistence, at rates authorized for employees of agencies under subchapter I of chapter 57 of title 5, United States Code, while away from their homes or regular places of business in performing services for the Advisory Commission. ####
(5)Termination The Advisory Commission shall terminate 30 days after the date of submission of the report required under subsection (d). ###
(c)Recommendations Based on the results of the study conducted under subsection (a), the Secretary shall develop such recommendations as may be appropriate for changes in statutes, regulations, and policies to improve the operation of the financial services system, including changes to better— ####
(1)meet the needs of, and assure access to the system for, current and potential users; ####
(2)promote economic growth; ####
(3)protect consumers; ####
(4)promote competition and efficiency; ####
(5)avoid risk to the taxpayers; ####
(6)control systemic risk; and ####
(7)eliminate discrimination. ###
(d)Report Not later than 15 months after the date of enactment of this Act, the Secretary shall submit to the President pro tempore of the Senate and the Speaker of the House of Representatives a report describing the study conducted under subsection
(a)and any recommendations developed under subsection (c). **[**Section 211 amended another law.**]**
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Sec. 210
STUDY AND REPORT ON THE UNITED STATES FINANCIAL SERVICES SYSTEM
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