Business Outreach
The Financial Institution Reform, Recovery and Enforcement Act of 1989 (FIRREA) mandates that financial regulatory agencies establish and oversee a minority and women outreach program to ensure the inclusion, to the maximum extent possible, of minorities and women, and entities owned by minorities and women, including financial institutions, investment banking firms, underwriters, accountants, and providers of legal services, in all contracts entered into by the FDIC. The FDIC's Minority and Women Outreach Program is administered by the Office of Minority and Women Inclusion (OMWI).
The FDIC seeks Minority- and Women-Owned Businesses (MWOBs) as well as Small Disadvantaged Businesses (SDBs) to participate in the FDIC's contracting activities.
Definitions
- MWOBs are firms, which are at least 51% owned and controlled by one or more minorities or women. In the case of a firm which is a corporation, at least 51% of each class of voting stock outstanding, and 51% of the aggregate of all stock outstanding, must be unconditionally owned by one or more minorities or women. Also, one or more minorities or women must conduct the firm's management and daily business operations.
- SDBs are concerns which are at least 51 percent unconditionally owned by one or more socially and economically disadvantaged individual as defined by the U.S. Small Business Administration.
How the Program Works
- Involvement in the Contracting Process
OMWI staff works in conjunction with FDIC program offices and the Acquisition Services Branch in all phases of the contracting process. This includes activities from pre-solicitation through post-award.
- Outreach to Trade Associations, Industry Professionals, and Consumers
OMWI, along with other FDIC divisions and offices, participates in industry-sponsored conferences and trade shows to share information and educate the public on how to do business with the FDIC.
OMWI disseminates informational brochures & literature to the general public to provide financial and consumer education while strengthening confidence in the FDIC & the banking system.
Business Toolkit
- Doing Business with the FDIC
This brochure outlines how a business should go about trying to fulfill FDIC contracting needs.
- Contractors' Workforces Fair Inclusion Fact Sheets
Information on Dodd-Frank Act Section 342 (c) provision requiring government contractors to demonstrate good faith effort in outreach and recruitment.
- FDIC Acronyms and Contracting Terms
FDIC's common acronmys and contracting terms.
- Financial Regulator's OMWI Interagency Point of Contact
Financial regulatory services agencies mandated to each create an Office of Minority and Women Inclusion (OMWI).
- List of Awards and Contractor Contact Information
List of prime contractors that provide core services to the FDIC.
- Acquisition Program
The guiding principles of the Federal Deposit Insurance Corporation (FDIC) Acquisition Program and the associated Acquisition Procedures and Guidance Manual document, and how these affect the FDIC acquisition process.
For More Information
For more information about the FDIC's Minority and Women Outreach Program, you may contact us at MWOBOutreach