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JUDGE DENIES REQUEST TO TEMPORARILY BLOCK IMPLEMENTATION OF INTERSTATE BANKING REGULATION

 JUDGE DENIES REQUEST TO TEMPORARILY BLOCK IMPLEMENTATION
 OF INTERSTATE BANKING REGULATION
 WASHINGTON, May 8 /PRNewswire/ -- A Washington federal court judge today denied a request to temporarily block the implementation of a regulation allowing federally insured thrifts to open branches across state lines.
 The interstate branching regulation, issued last month by the Office of Thrift Supervision (OTS), takes effect May 11. U.S. District Court Judge Royce Lamberth declined to issue a preliminary injunction against OTS sought by the Conference of State Bank Supervisors and the Independent Bankers Association of America. The injunction request was part of a lawsuit filed by the groups May 4 in an effort to ultimately overturn the rule. Lamberth's decision means that OTS can implement the regulation as scheduled while the judge hears arguments on the overall lawsuit.
 "We are gratified with Judge Lamberth's decision," said OTS Chief Counsel Harris Weinstein. "We expect that the lawsuit will be resolved on its merits. We are satisfied that the regulation serves the public interest, and we are fully confident that it was properly adopted."
 In previous public statements and testimony, OTS Director Timothy Ryan has said the regulation "will reduce thrift industry operating costs, improve customer services and make institutions less vulnerable to regional economic declines, thereby decreasing risk to the thrift insurance fund."
 -0- 5/8/92
 /CONTACT: Marc Adams of the Office of Thrift Supervision, 202-906-6677/ CO: Office of Thrift Supervision; Conference of State Bank
 Supervisors; Independent Bankers Association of America ST: District of Columbia IN: FIN SU:


TW-DC -- DC025 -- 8296 05/08/92 17:52 EDT
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Publication:PR Newswire
Date:May 8, 1992
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