1. Short title This Act may be cited as the Minority Bank Advisory Committee Act of 2018 . 2. Minority Depository Institutions Advisory Committees (a) Establishment The Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation shall each establish an advisory committee to be called the Minority Depository Institutions Advisory Committee . (b) Duties Each Minority Depository Institutions Advisory Committee shall provide advice to the respective agency on meeting the goals established by section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 1463 note) to preserve the present number of minority depository institutions, preserve the minority character of minority owned institutions in cases involving mergers or acquisitions, provide technical assistance, and encourage the creation of new minority depository institutions. The scope of the Minority Depository Institutions Advisory Committees’ work shall include an assessment of the current condition of minority depository institutions, what regulatory changes or other steps the respective agencies may be able to take to fulfill the mandate of such section 308, and other issues of concern to minority depository institutions. (c) Membership Each Minority Depository Institutions Advisory Committee shall consist of no more than 10 members, who— (1) shall serve for one two-year term; (2) shall serve as a representative of a depository institution with respect to which the respective agency is the appropriate Federal banking agency