Skip Header

Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

2014 Annual Report

Previous | Contents | Next

I. Management’s Discussion and Analysis

The Year in Review

MINORITY AND WOMEN INCLUSION

The FDIC relies on contractors to help meet its mission. In 2014, the FDIC awarded 288 (26.9 percent) contracts to minority- and women-owned businesses (MWOBs) out of a total of 1,072 issued. The FDIC awarded contracts with a combined value of $686.8 million in 2014, of which, $239.9 million, or 34.9 percent, were awarded to MWOBs, compared to 34.7 percent for all of 2013. The FDIC paid $128.2 million of its total contract payments (26.1 percent) to MWOBs, under 1,934 active contracts. Referrals to minority- and women-owned law firms (MWOLFs) accounted for 16 percent of all legal referrals in 2014, with total payments of $15.3 million going to MWOLFs, (13 percent of all payments to outside counsel) compared to 13 percent for all of 2013.

In 2014, the FDIC participated in a combined total of 21 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, 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 2014, a total of 332 MWOBs were added to the FDIC Contractor Resource List.

On December 2, 2014, the FDIC hosted a Technical Assistance Day. This event provided a venue for various business owners, including MWOBs and MWOLFs, to become better acquainted with the FDIC’s contracting process, receive technical assistance on effective proposal writing, and learn about the types of technical assistance offered by the Procurement Technical Assistance Center and Minority Business Development Agency. The event also included a panel composed of Office of Minority and Women Inclusion (OMWI) Directors from the U.S. Treasury Department, the OCC, the SEC, the FHFA, the CFPB, and the FDIC, who addressed their respective programs and opportunities. Eighty-six business representatives attended.

In addition, the FDIC conducted a series of outreach events to raise awareness and provide information on how to purchase other real estate (ORE) through the FDIC’s Owned Assets Marketplace and Auctions Program. The events also facilitated interaction between smaller investors and asset managers, which includes minority- and women-owned (MWO) firms.

Additionally, the FDIC conducted outreach targeting prospective asset purchasers and investors, including MWO investors, in Chicago and New York City in advance of an auction that occurred later in 2014. Information regarding the Owned Assets Marketplace and Auctions Program can be found on the FDIC’s website at www.fdic.gov/mwop.

 

Previous | Contents | Next

Skip Footer back to content