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In-house counsel at companies with federal contracts or subcontracts must ensure that their organizations are in compliance with new requirements from the Office of Federal Contract Compliance Programs (OFCCP). Compliance with OFCCP regulations is necessary where the company has a federal contract in the amount of $50,000 or more (or a subcontract performing work necessary for the performance of a federal contract) and when a company has 50 employees. Financial institutions covered by FDIC are also required to comply.