Spotlight on CFPB Procurement Opportunities

2 min

For many organizations the Consumer Financial Protection Bureau (CFPB) represents more than just a regulator – rather, it can also serve as a potential customer. Government contracts are big business and procurement opportunities at the CFPB are on the rise.

In fact, the CFPB has announced that it is hosting a training conference on Thursday, November 14 for community-based organizations interested in learning about doing business with the agency. The conference is particularly timely given that there are a number of upcoming opportunities for all types of companies to provide goods and services to the CFPB. These opportunities will include contracts for:

  • Digitization of library materials;
  • Safety program management and implementation;
  • Personal financial management software;
  • Credit card solicitation mail volume reports;
  • Mobile payments news sources; and
  • Writing and presentation skills courses.

Interested organizations should be mindful that while the opportunities may be lucrative, doing business with any agency of the federal government, including the CFPB, comes with a number of strings, including a somewhat-rigid negotiating structure and a number of socio-economic contract terms and conditions that are unlike those one would see in the commercial space.

In uncharted waters, experience is your best guide. Venable’s CFPB Task Force has decades of experience advising clients on banking and financial services regulation, advertising and marketing law, privacy and data security, legislative and government affairs, class action defense, and federal and state investigations and enforcement matters. Some of our recent articles and presentations include:

Venable’s Government Contracts practice group actively advises clients (both for- and not-for-profit) on both federal contracts and grant compliance. Venable’s Government Contracts practice group regularly publishes and speaks on topics relevant to all types of organizations doing business with the federal government. A sampling of our recent articles and presentations includes: