A notice was published by the CFPB in today’s Federal Register that an inventory and summary of the service contracts over $25,000 it awarded in FY 2013 are available for public viewing. (The inventory and a summary are posted on the CFPB’s website.) The inventory shows 215 contracts for a total amount of $84,948,018.39.
While the inventory indicates the name of the vendor receiving a contract and the amount, it provides minimal or no descriptive information about the nature of the services provided. For each contract, a product and services code (PSC) and code description is shown. For example, the inventory indicates a $1.9 million contract awarded to McKinsey & Company for which the PSC description is “Special Studies/Analysis-Economic” and describes the contract requirement as “Costs of Compliance Study.” However, for contracts of $2.9 million and $1.1 million awarded to Argus Information and Advisory Services with the same PSC description, the inventory describes the contract requirements, as, respectively, “Exercise of Option 1” and “Additional Work.” While additional contract information is available on USAspending.gov, there is still insufficient information from which to determine the nature of the services provided.