I am trying to determine if e-verify is required for banks that are FDIC insured. E-verify is required for federal contracters but I'm not clear if banks would fall into that category. I'm in TN and we do not have a state law requiring the use of E-verify. Thanks for any advice!

Did you ever find an answer for this? I believe banks are federal contracters due to FDIC insurance.

The answer is no, if the only contract you have is acting as a paying agent of savings bonds and are FDIC insured:

1. Comment: Several commenters
recommended that banks and other
financial institutions whose contracts
are limited to serving as issuing and
paying agents for U.S. savings bonds
and savings notes or being insured by
the FDIC should be excluded from the
e-verification requirement. One
commenter requested similar treatment
for financial institutions that are parties
to financial agency agreements (FAAs)
with the Federal Government because
FAAs are not subject to the FAR. This
commenter stated that FAAs explicitly
state: ‘‘This FAA is not a Federal
procurement contract and is therefore
not subject to the provisions of the
Federal Property and Administrative
Services Act (41 U.S.C. Sections 251–
260), the Federal Acquisition
Regulations (48 CFR Chapter 1), or any
other Federal procurement law.’’

Response: Agreements or activities
performed by financial institutions that
are not subject to the FAR are not
required to comply with the E-Verify
provisions and clauses of the FAR.

It appears that just being covered under FDIC and issuing/cashing savings bonds is not enough to require a financial institution to enroll in E-Verify; however does a contract with Freddie Mac qualify as a federal contract since it isn't directly through the federal government? Are most financial institutions participating in E-Verify voluntarily or as a requirement? Our state does not require participation in E-Verify.