Supporting Community Lenders Act

“(o) Office of Community Financial Institutions

“(1) Definitions—In this subsection—

“(A) the term Associate Administrator means the Associate Administrator of the Office of Capital Access of the Administration;

“(B) the term community financial institution has the meaning given the term in paragraph (36); and

“(C) the term Director means the Director of the Office of Community Financial Institutions.

“(2) Establishment—There is established within the Administration the Office of Community Financial Institutions, which shall be—

“(A) under the general management and oversight of the Administration; and

“(B) responsible for the planning, coordination, implementation, evaluation, and improvement of the efforts of the Administrator to enhance the performance of community financial institutions and support access to capital for small business concerns.

“(3) Director

“(A) In general—Not later than 180 days after the date of enactment of the Supporting Community Lenders Act, the Administrator shall appoint a Director of the Office of Community Financial Institutions, who shall—

“(i) supervise the Office of Community Financial Institutions and report to the Associate Administrator;

“(ii) be in the Senior Executive Service; and

“(iii) have knowledge of community financial institutions and experience providing access to capital to small business concerns in underserved communities.

“(B) Duties—The Director shall—

“(i) create and implement strategies and programs that support the activities, development, and growth of community financial institutions;

“(ii) administer and manage outreach, technical support, and training programs to existing, and potential, community financial institutions;

“(iii) establish partnerships within the Administration and with relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, the Department of Agriculture, and the Minority Business Development Agency, to advance the goal of supporting the economic success of small business concerns through community financial institutions;

“(iv) review the effectiveness and impact of community financial institutions;

“(v) when appropriate, advocate on behalf of community financial institutions within the Administration, and to outside organizations, including other relevant Federal agencies;

“(vi) hold public meetings with relevant stakeholders not less frequently than once every 6 months beginning 1 year after the date of enactment of the Supporting Community Lenders Act; and

“(vii) not later than 3 years after the date of enactment of the Supporting Community Lenders Act, and not less frequently than once every 3 years thereafter, submit to Congress a report on the major activities of the Office of Community Financial Institutions, recommendations for congressional action based on the expertise of the Office, and areas for growth within the Office.

“(C) Consultation—In carrying out the duties under this paragraph, the Director shall consult with—

“(i) district offices of the Administration; and

“(ii) other relevant Federal agencies, including the Department of the Treasury, the Federal Deposit Insurance Corporation, and the Minority Business Development Agency.”