WASHINGTON -- The Shadow Financial Regulatory Committee said Monday that regulators should require annual independent audits for community banks - rather than abolish the requirement for small thrifts, as one agency has proposed.

The panel, in its quarterly meeting, also opposed a proposed increase in the size of loans the Federal Housing Administration insures, and said it would oppose boosting the s'ne of loans government-sponsored enterprises Fannie Mae and Freddie Mac can buy.

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