Page:United States Statutes at Large Volume 124.djvu/1998

 124 STAT. 1972 PUBLIC LAW 111–203—JULY 21, 2010 (iii) effective methods, tools, and strategies intended to educate and empower consumers about personal finance management; and (iv) recommendations intended to encourage the development of programs that effectively improve financial education outcomes and empower consumers to make better informed financial decisions based on findings. (B) REPORT.—Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit a report on the results of the study conducted under this paragraph to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives. (e) OFFICE OF SERVICE MEMBER AFFAIRS.— (1) IN GENERAL.—The Director shall establish an Office of Service Member Affairs, which shall be responsible for devel- oping and implementing initiatives for service members and their families intended to— (A) educate and empower service members and their families to make better informed decisions regarding con- sumer financial products and services; (B) coordinate with the unit of the Bureau established under subsection (b)(3), in order to monitor complaints by service members and their families and responses to those complaints by the Bureau or other appropriate Fed- eral or State agency; and (C) coordinate efforts among Federal and State agen- cies, as appropriate, regarding consumer protection meas- ures relating to consumer financial products and services offered to, or used by, service members and their families. (2) COORDINATION.— (A) REGIONAL SERVICES.—The Director is authorized to assign employees of the Bureau as may be deemed necessary to conduct the business of the Office of Service Member Affairs, including by establishing and maintaining the functions of the Office in regional offices of the Bureau located near military bases, military treatment facilities, or other similar military facilities. (B) AGREEMENTS.—The Director is authorized to enter into memoranda of understanding and similar agreements with the Department of Defense, including any branch or agency as authorized by the department, in order to carry out the business of the Office of Service Member Affairs. (3) DEFINITION.—As used in this subsection, the term ‘‘service member’’ means any member of the United States Armed Forces and any member of the National Guard or Reserves. (f) TIMING.—The Office of Fair Lending and Equal Opportunity, the Office of Financial Education, and the Office of Service Member Affairs shall each be established not later than 1 year after the designated transfer date. (g) OFFICE OF FINANCIAL PROTECTION FOR OLDER AMERICANS.— (1) ESTABLISHMENT.—Before the end of the 180-day period beginning on the designated transfer date, the Director shall Deadline. Establishment.