WASHINGTON - The Office of the Comptroller of the Currency and the Office of Thrift Supervision preempted state and local laws 67 times since the start 1994, according to a General Accounting Office report issued late last week.

House Banking Chairman Jim Leach had requested the report last fall in response to industry and state bank regulators' concerns about the procedures federal regulators use to override state and local statutes. In particular, state officials want the federal banking agencies to notify them before action is taken, let them provide input, and notify them of final decisions.

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