Senate Banking Chair Seeks Audit Of Small Bank Exams

Law360, New York (February 14, 2012, 7:17 PM EST) -- The chairman of the U.S. Senate Banking Committee on Friday asked for an audit of bank regulators' examination process for small community banks and credit unions, joining in the chorus of legislators who have raised concerns over the examination process for small banks.

Sen. Tim Johnson, D-S.D., asked the inspectors general of the U.S. Department of the Treasury, the Federal Reserve System, the Federal Deposit Insurance Corp. and the National Credit Union Association to conduct an audit on those agencies' bank examination processes. The request came...
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