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.

Eliminating the requirement will save banks money, according to Diane M. Casey, partner and national director of financial services for Grant Thornton LLP. Banks still will have to hire outside auditors to vouch for their internal controls and the accuracy of their financial statements.

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