The Savings and Community Bankers of America has advised the Federal Deposit Insurance Corporation to seek repeal of a provision that requires independent audits of Insured depository Institutions. SCBA Included this recommendation In its critique of regulations proposed by the regulator to implement section 112 of the FDIC Improvement Act of 1991.

SCBA and other trade groups and affected Institutions offered several recommendations for changes In the regulations. Chief among them is to increase the asset size of banks and thrifts that are to be exempt from independent audits.

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