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2015 Annual Report

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I. Management’s Discussion and Analysis

The Year in Review


The FDIC relies on contractors to help meet its mission. In 2015, the FDIC awarded 346 (29.9 percent) contracts to minority- and women-owned businesses (MWOBs) out of a total of 1,159 issued. The FDIC awarded contracts with a combined value of $858.4 million in 2015, of which, $211.6 million, or 24.7 percent, were awarded to MWOBs, compared to 34.9 percent for all of 2014. The FDIC paid $142.5 million of its total contract payments (28.1 percent) to MWOBs, under 591 active contracts. Referrals to minority- and women-owned law firms (MWOLFs) accounted for 40 percent of all legal referrals in 2015, with total payments of $12 million going to MWOLFs, 12 percent of all payments to outside counsel, compared to 13 percent for all of 2014.

Picture of representatives of the eight OMWI Agencies
Representatives of the eight OMWI agencies gather at the first interagency OMWI technical assistance event.

In 2015, the FDIC participated in a combined total of 34 business expos, one-on-one matchmaking sessions, and panel presentations. At these events, FDIC staff provided information and responded to inquiries regarding FDIC business opportunities for minorities and women. In addition to targeting MWOBs and MWOLFs, these efforts also targeted veteran-owned and small disadvantaged businesses. Vendors were provided with the FDIC’s general contracting procedures, prime contractors’ contact information, and forecasts of possible upcoming solicitations. Also, vendors were encouraged to register through the FDIC’s Contractor Resource List (a principal database for vendors interested in doing business with the FDIC).

In August 2015, the FDIC, along with seven other agencies, co-hosted “Collaborating for Success,” a technical assistance event, in conjunction with the Northern Virginia Procurement Technical Assistance Program (PTAP). The purpose of the event was to network with MWOBs that are interested in federal contracting activities, and to provide meaningful information to help them build and grow their federal contracting opportunities. This event supports one of the key provisions of Section 342 of the Dodd-Frank Act requiring the Office of Minority and Women Inclusion (OMWI) agencies to increase and ensure the fair participation of MWOBs, and ensure MWOBs receive technical assistance and guidance about the procurement process within those agencies. This was the first Interagency Procurement Technical Assistance Event, with joint participation of eight OMWI agencies. A total of 344 vendors attended.

During 2015, OMWI and the Division of Resolutions and Receiverships (DRR) collaborated to present two FDIC-sponsored asset purchaser workshops that were marketed extensively to minority- and women-owned investors and companies interested in learning about DRR’s sales processes.  DRR speakers with strong backgrounds in their respective programs provided details on the various tools used by DRR to market assets and presented information to attendees on how to participate in the transactions and bid on assets offered for sale.

Following the Doral Bank failure in Puerto Rico in February 2015 and highlighting interdivisional collaboration, the Division of Depositor and Consumer Protection (DCP) joined with DRR and OMWI to sponsor workshops for both investors and homeowners. More than 160 people attended these events, which included presentations by: DRR, OMWI, and DCP staff; Puerto Rico’s Commissioner Blanco-Latorre from the Office of the Commissioner of Financial Institutions; and representatives from both the Department of Housing and Urban Development and the Commonwealth of Puerto Rico Housing Finance Authority.

Another asset purchaser workshop held in Atlanta, Georgia, was attended by 42 prospective investors. This event included a special focus on Owned Real Estate (ORE) investment opportunities to support a DRR auction of real estate properties scheduled two weeks after the outreach workshop. A segment regarding contracting services was also part of the event.

In August, through OMWI’s logistical support and funding, DRR participated in a Mortgage Housing Fair in Puerto Rico. The Housing Fair was organized by a small group of business professionals from the banking and insurance community on the island, and drew an audience of over one thousand attendees. Representatives from DRR educated participants on the process of purchasing ORE properties from the FDIC, provided a general overview on deposit insurance, and publicized the scheduled ORE auction in October. The FDIC team also included members from RMS Examinations (Puerto Rico). Over the course of the event, the FDIC directly engaged over 500 attendees, and indirectly informed many more through 30-minute presentations on the main stage each day. Presentations focused on deposit insurance and how to buy ORE from the FDIC. Information regarding the Minority and Women Outreach Program can be found on the FDIC’s website at

In addition, the FDIC worked to further implement Section 342(b)(2)(C) of the Dodd-Frank Act in 2015, which requires the OMWI Director of each covered agency to develop standards for assessing the diversity policies and practices of entities regulated by such agency. To implement that requirement and develop those standards, the FDIC continued to work closely with the OMWI Directors of the OCC, the NCUA, the FRB, the CFPB, and the SEC. On June 10, 2015, the Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies became effective.


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