Federal contractor?

Posted By: Irishguy

Federal contractor? - 03/26/18 01:19 PM

Are banks still considered a federal contractor even though they do not issue US Savings Bonds? Your help is greatly appreciated!
Posted By: rlcarey

Re: Federal contractor? - 03/26/18 01:54 PM

Is a financial institution that is covered by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Association (NCUA) with deposit insurance subject to the Affirmative Action Program (AAP) requirements under Executive Order 11246, as amended, the Vietnam Era Veterans’ Readjustment Assistance Act of 1974 (VEVRAA), as amended, 38 U.S.C. 4212 and Section 503 of the Rehabilitation Act of 1973 (Section 503), as amended?

Yes. Financial institutions with federal share and deposit insurance are considered to be government contractors within the meaning of the regulations implementing Executive Order 11246, as amended, the Vietnam Era Veterans’ Readjustment Assistance Act of 1974 (VEVRAA), as amended, 38 U.S.C. 4212 and Section 503 of the Rehabilitation Act of 1973 (Section 503), as amended. These three programs enforced by the Office of Federal Contract Compliance Programs (OFCCP) require equal employment opportunity by government contractors.

The implementing regulations for Executive Order 11246 at 41 CFR 60–1.3 have consistently defined a government contract as any agreement or agreement modification between any contracting agency and any person for the purchase, sale or use of personal property or nonpersonal services. The term “nonpersonal services” includes, but is not limited to, the following services: utilities, construction, transportation, research, insurance, and fund depository. This definition thus explicitly includes agreements for insurance.

The implementing regulations for VEVRAA and Section 503, found at 41 CFR 60–250.2, 60–300.2 and 60–741.2, respectively, also define a government contract as any agreement or agreement modification between any contracting agency and any person for the purchase, sale or use of personal property or nonpersonal services. Like the Executive Order regulations, these regulations also state that the term “nonpersonal services” includes, but is not limited to the following services: utilities, construction, transportation, research, insurance, and fund depository. Therefore, financial institutions with federal share and deposit insurance are considered to be government contractors.
Posted By: ComplyCycle

Re: Federal contractor? - 08/15/23 08:33 PM

Hi, any changes to the above response? Or are banks still federal contractors requiring the federal contractor NLRA poster be posted? Thank you.
Posted By: rlcarey

Re: Federal contractor? - 08/15/23 08:53 PM

No changes of which I am aware: https://www.dol.gov/agencies/ofccp/faqs/jurisdiction#Q13
Posted By: ComplyCycle

Re: Federal contractor? - 08/15/23 09:15 PM

Great - thank you for confirming.
Posted By: ComplyCycle

Re: Federal contractor? - 08/18/23 03:07 PM

Is this the required poster? The "Equal Employment Opportunity is The Law" poster? Thanks.

https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf
Posted By: rlcarey

Re: Federal contractor? - 08/18/23 04:42 PM

It has been a while and someone else might know for sure, but I think that is an old poster and this is the current one? Maybe?

https://www.dol.gov/sites/dolgov/fi...sters/pdf/22-088_EEOC_KnowYourRights.pdf
Posted By: Andy_Z

Re: Federal contractor? - 08/27/23 05:56 PM

From my signage checklist in the Bankers Tools:

The first requires: C. Required to be visible to job applicants and employees, 42 USC 2000e-10(a). This poster should include five parts, and if not in a combined poster, individual signs must be posted in the manager’s office or lobby. The five laws are: Equal Employment Opportunity Act, Fair Labor Standards Act, Employee Polygraph Protection Act, Family Medical Leave Act, and OSHA’s Plain Language “It’s The Law”.

And the second requirement similar to this discussion is: M. 1) Executive Order 13496 Notice of Employee Rights under the National Labor Relations Act, the primary law governing relations between unions and employers in the private sector. See 29 CFR Part 471. Banks need due to FDIC ins, savings bonds, TTL accounts and gov’t contracts. Post the notice conspicuously in offices where employees covered by the NLRA perform contract-related activity, including all places where notices to employees are customarily posted both physically and electronically. 2) Employee Rights under the NLRA See section 7 of the NLRA, 29 U.S.C. 157

The links on the form are to https://www.dol.gov/agencies/olms/poster/labor-rights-federal-contractors, https://www.federalregister.gov/doc...er-the-national-labor-relations-act#p-10 and https://www.law.cornell.edu/uscode/text/29/157