§ 2402. — Membership of Commission.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC2402]
TITLE 12--BANKS AND BANKING
CHAPTER 25--NATIONAL COMMISSION ON ELECTRONIC FUND TRANSFERS
Sec. 2402. Membership of Commission
(a) Composition
The Commission shall be composed of twenty-six members as follows:
(1) the Chairman of the Board of Governors of the Federal
Reserve System or his delegate;
(2) the Attorney General or his delegate;
(3) the Comptroller of the Currency or his delegate;
(4) the Chairman of the Federal Home Loan Bank Board or his
delegate;
(5) the Administrator of the National Credit Union
Administration or his delegate;
(6) the Chairman of the Board of Directors of the Federal
Deposit Insurance Corporation or his delegate;
(7) the Chairman of the Federal Communications Commission or his
delegate;
(8) the Postmaster General or his delegate;
(9) the Secretary of the Treasury or his delegate;
(10) the Chairman of the Federal Trade Commission or his
delegate;
(11) two individuals, appointed by the President, one of whom is
an official of a State agency which regulates banking, or similar
financial institutions, and one of whom is an official of a State
agency which regulates thrift or similar financial institutions;
(12) seven individuals, appointed by the President, who are
officers or employees of, or who otherwise represent banking,
thrift, or other business entities, including one representative
each of commercial banks, mutual savings banks, savings and loan
associations, credit unions, retailers, nonbanking institutions
offering credit card services, and organizations providing
interchange services for credit cards issued by banks;
(13) five individuals, appointed by the President, from private
life who are not affiliated with, do not represent and have no
substantial interest in any banking, thrift, or other financial
institution, including but not limited to credit unions, retailers,
and insurance companies;
(14) the Comptroller General of the United States or his
delegate; and
(15) the Director of the Office of Technology Assessment.
(b) Designation of Chairperson
The Chairperson shall be designated by the President at the time of
his appointment from among the members of the Commission and such
selection shall be by and with the advice and consent of the Senate
unless the appointee holds an office to which he was appointed by and
with the advice and consent of the Senate.
(c) Vacancies
A vacancy in the Commission shall be filled in the manner in which
the original appointment was made.
(Pub. L. 93-495, title II, Sec. 202, Oct. 28, 1974, 88 Stat. 1508.)
Transfer of Functions
Federal Home Loan Bank Board abolished and functions transferred,
see sections 401 to 406 of Pub. L. 101-73, set out as a note under
section 1437 of this title.