; or (2) file an appeal of such determination. (g) Rulemaking Not later than 1 year after the date of the enactment of this Act, the Federal banking agencies shall jointly issue rules to carry out the requirements of this section, including by providing a definition of a low-income borrower. (h) Reports Each Federal banking agency shall submit an annual report to the Congress containing a description of actions taken to carry out this section. (i) Federal Deposit Insurance Act definitions In this section, the terms depository institution , appropriate Federal banking agency , and Federal banking agency have the meanings given such terms, respectively, in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ). 6. Minority Depositories Advisory Committees (a) Establishment Each covered regulator shall establish an advisory committee to be called the Minority Depositories Advisory Committee . (b) Duties Each Minority Depositories Advisory Committee shall provide advice to the respective covered regulator 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 covered minority institutions, preserve the minority character of minority-owned institutions in cases involving mergers or acquisitions, provide technical assistance, and encourage the creation of new covered minority institutions. The scope of the work of each such Minority Depositories Advisory Committee shall include an assessment of the current condition of covered minority institutions, what regulatory changes or other steps the respective agencies may be able to take to fulfill the requirements of such section 308, and other issues of concern to covered minority institutions. (c) Membership (1) In general Each Minority Depositories Advisory Committee shall consist of no more than 10 members, who— (A) shall serve for one two-year term