Information for Prospective Outside Counsel
Selection of Potential Outside Counsel
The Legal Division attempts to select outside counsel on a competitive basis whenever possible. When retaining outside counsel to perform legal services, the Legal Division considers several factors, including:
- The experience of outside counsel in the type of legal work required to be performed.
- The geographic location of outside counsel.
- The capacity of outside counsel to handle the anticipated volume of work.
- Whether the fees or rates proposed by outside counsel are competitive in comparison to other firms’ rates. Whether the proposed rates reflect discounts.
- Whether provision of legal services by outside counsel would constitute or give rise to an actual or potential conflict of interest or the appearance of a conflict of interest.
- If the firm previously worked for the FDIC, whether it has a verifiable reputation for competence, integrity, cost effectiveness and cooperativeness.