This legislation, known as the "Community Bank Representation Act," aims to strengthen the representation and influence of community banks within the Federal Reserve System. It amends the Federal Reserve Act to assign specific, expanded responsibilities to the member of the Board of Governors who possesses primary experience working in or supervising community banks. The bill mandates that the Chairman select this member to develop policy recommendations for the Board concerning the supervision and regulation of banking organizations with less than $17 billion in total assets, and to oversee their supervision. To ensure accountability, the bill requires this community bank member, if not also the Vice Chairman for Supervision, to appear semi-annually before relevant congressional committees to report on their activities and plans regarding smaller institutions. An important provision also introduces an annual adjustment to the $17 billion asset threshold, based on increases in the nominal gross domestic product, to maintain its relevance over time. Furthermore, the bill mandates consultation between the Governor appointed to the Federal Financial Institutions Examination Council and the community bank member on matters related to the supervision of these smaller banking organizations.