Amends GS 53C-1-4(58) to define a public member as the term is used in GS Chapter 53C (Regulation of Banks) to mean a member of the State Banking Commission (Commission) who is not a practical banker, a consumer finance licensee, or a person licensed under Article 19B of GS Chapter 53 (was, who is not a practical banker or a consumer finance licensee), and who is not at the time of appointment to the Commission, nor within five years preceding, an employee of a North Carolina financial institution. Amends the 15-member Commission as set out in GS 53C-2-1(a) to reduce the number of public members the Governor is to appoint to the Commission from eight to seven, and direct the Governor to appoint one person licensed under Article 19B of GS Chapter 53 (The Secure and Fair Enforcement Mortgage Licensing Act).

Provides that when this act becomes effective, Donald E. Fader's position on the Commission is to convert to a position assigned for a licensee under Article 19B of GS Chapter 53. Directs Donald E. Fader to continue on the Commission as that designated licensee for his remaining term, scheduled to expire April 1, 2017, or until he resigns or ceases to meet the definition of a licensee under Article 19B of GS Chapter 53, whichever first occurs. Establishes that the terms of the remaining members appointed by the Governor are to expire under the current schedule, and directs the Governor to make appointments to fill vacancies on the Commission as they occur.