The model for this, the committee noted, was established when Congress passed the Federal Deposit Insurance Corporation Improvement Act of 1991.

FORBES: Experts: Make Investment Bankers Share The Cost

But for the last decade banks have been required to meet similar internal-control standards under the Federal Deposit Insurance Corporation Improvement Act.

FORBES: Sarbanes-Oxley: Bankers' Bane, Auditors' Boon

The Dodd-Frank Act gives the Federal Deposit Insurance Corp. broad new powers to liquidate banks it thinks are insolvent.

FORBES: An Old Case Haunts The FDIC's Bank-Closers