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CFPB Report: 2018-FMIC-C-011 June 20, 2018

The Bureau Could Have Better Managed Its GMMB Contract and Should Strengthen Controls for Contract Financing and Contract Management

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In August 2013, the Bureau awarded a contract to GMMB for advertising and marketing services. From August 2013 to February 2018, the Bureau obligated $43.8 million through 22 task orders. We assessed the Bureau's compliance with applicable laws, regulations, and internal policies and procedures related to the award and management of this contract.

The Bureau competitively awarded the contract and performed technical and price reasonableness evaluations in compliance with the Federal Acquisition Regulation. However, the Bureau can improve controls to help ensure compliance with other aspects of the FAR and can improve contract management.

Our recommendations include enhancing existing policy and associated training related to contract financing as well as improving contract management practices.