The Board of Governors of the Federal Reserve System has announced the extension and revision of the Procurement Solicitation Package, effective on March 7, 2025. This package includes tools to help the Board fairly select suppliers for goods and services by evaluating their proposals. The new Contractor Conflict of Interest Screening form (FR 1400E) ensures that potential contractors do not have conflicts of interest, particularly when accessing sensitive information related to the Board's mission. Although the public had 60 days to comment on these revisions, no comments were received, and the changes will be implemented as planned.
Simple Explanation
The Federal Reserve Board wants to make sure the people they hire to help them with important money-related work don't have any conflicts of interest, like hidden reasons that might affect their work. They had a plan to check this and asked people for their thoughts, but nobody said anything, so they're going to go ahead with their plan!