; and (ii) have strong competencies and experiences related to consumer financial products and services. (B) Staggering The members of the commission shall serve staggered terms, which initially shall be established by the President for terms of 1, 2, 3, 4, and 5 years, respectively. (C) Terms (i) In general Except as provided under subparagraph (B), each member of the commission, including the Chair, shall serve for a term of 5 years. (ii) Removal The President may remove any member of the commission for inefficiency, neglect of duty, or malfeasance in office. (iii) Vacancies Any member of the commission appointed to fill a vacancy occurring before the expiration of the term to which that member’s predecessor was appointed (including the Chair) shall be appointed only for the remainder of the term. (iv) Continuation of service Each member of the commission may continue to serve after the expiration of the term of office to which that member was appointed until a successor has been appointed by the President and confirmed by the Senate, except that a member may not continue to serve more than 1 year after the date on which that member’s term would otherwise expire. (v) Other employment prohibited No member of the commission shall engage in any other business, vocation, or employment. (c) Affiliation Not more than 3 members of the commission shall be members of any one political party. (d) Chair (1) Appointment The Chair of the commission shall be appointed by the President from among the members of the commission. (2) Authority The Chair shall be the principal executive officer of the commission, and shall exercise all of the executive and administrative functions of the commission, including with respect to— (A) the appointment and supervision of personnel employed under the commission (other than personnel employed regularly and full time in the immediate offices of members of the commission other than the Chair)