; and (B) upon making a final determination, publicly provide a written explanation of the basis for the Council’s decision with sufficient detail to provide the public with an understanding of the specific basis of the Council’s determination, including any assumptions related thereof. (f) Two-Year limitation After the end of the two-year period beginning on the date an entity first has a primary regulatory designated under subsection (c)(2)— (1) any such designation is terminated; and (2) the entity is not eligible for any future designation under subsection (c)(2). 3. Office of Financial Innovation (a) Establishment (1) In general Each Federal financial regulator shall establish an Office of Financial Innovation ( Office ). (2) Director The head of each Office shall be a Director, who shall be appointed to a 5-year term by, and report to, the head of the Federal financial regulator. (3) Staffing The head of each Federal financial regulator shall ensure that the regulator’s Office is adequately staffed at all times. (b) Duties The duties of the Office are to— (1) draft a mission statement, which shall include the phrase responsible innovation ; (2) coordinate and make publicly available efforts made by Designated Financial Regulators related to covered actions so as to reduce the regulatory burden for eligible FinTech startups; (3) establish and maintain an easily-accessible website, which shall include the Office’s mission statement and a portal where eligible FinTech startups can submit questions or request meetings with the Office; (4) respond to questions and meeting requests described under paragraph (3) in a timely manner; (5) implement recommendations from the Advisory Council of FinTech Directors; (6) conduct outreach to eligible FinTech startups when a covered action is made public or finalized