The thrift fund rescue package eliminated a requirement that outside auditors be hired to monitor a bank's compliance with certain rules.

Since 1991, banks with more than $500 million in assets have had to pay outside auditors to attest that the bank was not violating bans on sweetheart loans to bank insiders or limits on dividend payments.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.