; issued June 18, 2018) and Application of the Securities and Mutual Fund Exemptions to Cryptocurrency, Stablecoins, and Related Investments (LA–22–04; issued July 5, 2022) shall have no force or effect to the extent that either such advisory is inconsistent with subsection (a). 908. Advisory Committee on Financial Innovation (a) Establishment There is established the Advisory Committee on Financial Innovation (in this section referred to as the Committee ). (b) Membership (1) Composition The Committee shall be composed of 11 members, as follows: (A) 2 members appointed by the President from the financial technology industry. (B) 4 members appointed by the President with specializations in consumer protection, consumer education, financial literacy, or financial inclusion. (C) The Director of the Office of Financial Innovation of the Commodity Futures Trading Commission. (D) The Director of the Office of Financial Innovation of the Securities and Exchange Commission. (E) A member of the Board of Governors of the Federal Reserve System, as voted upon by the Board. (F) A State banking supervisor, as designated by the Conference of State Bank Supervisors. (G) A State securities regulator, as designated by the National Association of State Securities Administrators. (2) Political affiliation Not more than 4 of the members of the Committee shall be from the same political party. (3) Appointment date The appointments of the members of the Committee shall be made not later than 60 days after the date of enactment of this Act. (4) Period of appointment; vacancies (A) In general A member of the Committee shall be appointed for a term of 4 years. (B) Vacancies A vacancy in the Committee— (i) shall not affect the powers of the Committee