WASHINGTON - A Pennsylvania law regulating auctioneers does not apply to a national bank that auctions certificates of deposit over the Internet, the Office of the Comptroller of the Currency said Monday.The Comptroller's Office said federal law would, if challenged in court, override Pennsylvania's auction laws that require auctioneers, whether they are individuals or corporations, to be licensed and keep detailed records.

A Pennsylvania-based national bank, which the OCC would not identify, posed the question of preemption in December.

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