How the Program Works
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.
The FDIC conducts outreach to private and public sectors, the banking industry, professional organizations, community organizations, trade associations, international organizations, and other groups regarding its mission, workforce, and operations. Outreach event topics include, but are not limited to:
- DEIA best practices;
- Employment opportunities;
- Contracting and business opportunities, including legal services;
- Risks that might impact the banking industry;
- Deposit insurance coverage;
- Financial literacy;
- Financial industry conditions;
- Investor interest in receivership assets;
- Public policy issues;
- Community and economic development; and
- The Community Reinvestment Act of 1977 and federal fair lending laws.
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 and literature to the general public to provide financial and consumer education while strengthening confidence in the FDIC and the banking system.