Do banks that do not sell savings bonds have to prepare an Affirmative Action Plan?
Here's the OFCCP's position, as set forth in an FAQ on its website:
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 Actions 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 <http://www.dol.gov/dol/allcfr/Title_41/Part_60-1/41CFR60-1.3.htm> 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.
Also, as we discussed the Department of Labor has delegated to OFCCP the authority to issue regulations pursuant to Executive Order 13496 (EO 13496). EO 13496 basically requires all contractors to post a notice informing employees of their right to join a union. In discussing the regulations, OFCCP has taken the position that banks with FDIC insurance are covered contractors for this purposes. In a recent presentation, Director Shiu stated: