What is the goal of contracting regulations under the FDIC?

The goal of contracting regulations under the FDIC is to ensure fairness and transparency in the procurement process. This is crucial in maintaining the integrity of government operations and instilling public trust. By establishing clear guidelines and standards, the regulations help to level the playing field for all potential contractors, promoting competition and preventing any form of favoritism or corruption. Transparency in these regulations allows for scrutiny and accountability, ensuring that taxpayer dollars are spent effectively and responsibly.

While reducing costs, promoting regional investments, and increasing contractor diversity may be related goals, they are secondary to the fundamental principle of fairness and transparency, which is central to the regulatory framework. Having a transparent and fair contracting process enhances the credibility of the FDIC and its programs, ensuring that decisions are made based on objective criteria rather than subjective influences.