Accounting Firm Fights U.S. on S&Ls; Ernst & Young Asks Court to Block Subpoenas for Audit Records

The Washington Post | January 24, 1992| | Copyright

Challenging a campaign by federal savings and loan regulators to hold auditors responsible for the losses of failed S&Ls, one of the nation's biggest accounting firms has accused the Office of Thrift Supervision (OTS) of trying to blame the accountants for the failure of a nonexistent savings and loan.

In court documents made public this week, the accounting firm, Ernst & Young, has asked the U.S. District Court here to block efforts by the Office of Thrift Supervision to make Ernst & Young turn over more than 1.1 million pages of documents relating to 23 failed S&Ls.

The OTS subpoenas ...

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