PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 493 Subtitle C—Improving Early Detection of Misconduct and Encouraging Informants SEC. 931. INFORMATION REQUIRED TO BE MADE AVAILABLE TO OUTSIDE AUDITORS. (a) DEPOSITORY INSTITUTIONS INSURED BY THE FDIC. —Section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 1817(a)) is amended by adding at the end thereof the following new paragraph: " (8) REPORT TO INDEPENDENT AUDITOR. — "(A) IN GENERAL.— Each insured depository institution which has engaged the services of an independent auditor to audit such depository institution within the past 2 years shall transmit to such auditor a copy of the the most recent report of condition made by such depository institution (pursuant to this Act or any other provision of law) and a copy of the most recent report of examination received by such depository institution. "(B) ADDITIONAL INFORMATION. — In addition to the copies of the reports required to be provided to an auditor under subparagraph (A), each insured depository institution shall provide such auditor with— "(i) a copy of any supervisory memorandum of under- standing with such depository institution and any writ- ten agreement between a Federal or State banking agency and the depository institution which is in effect during the period covered by the audit; and "(ii) a report of any action initiated or taken by a Federal banking agency during such period under subsection (a), (b), (c), (e), (g), (i), or (s) of section 8, or of any similar action taken by a State banking agency under State law, or any other civil money penalty assessed under any other provision of law with respect to— "(I) the depository institution; or "(II) any institution-affiliated party.". (b) INSTITUTIONS INSURED BY THE NCUA.—Section 202(a) of the Federal Credit Union Act (12 U.S.C. 1782(a)) is amended by adding after the paragraph added by section 922 of this Act the following new paragraph: " (7) REPORT TO INDEPENDENT AUDITOR. — "(A) IN GENERAL.—Each insured credit union which has engaged the services of an independent auditor to audit such depository institution within the past 2 years shall transmit to such auditor a copy of the most recent report of condition made by such credit union (pursuant to this Act or any other provision of law) and a copy of the most recent report of examination received by such credit union. "(B) ADDITIONAL INFORMATION. — In addition to the copies of the reports required to be provided to an auditor under subparagraph (A), each insured credit union shall provide such auditor with— "(i) a copy of any supervisory memorandum of under- standing with such credit union and any written agree- ment between the Board or a State regulatory agency
�
