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Contact:
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Robert Schmermund
(202) 857-3104
Jim Eberle
(202) 857-3145
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Jim Eberle
(202) 857-3145 (work)
(703) 893-2593 (home)
[email protected]
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For Immediate Release
October 24, 2000
#00-118 |
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E-mail:
[email protected] |
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ACB URGES PREEMPTION OF RHODE ISLAND INSURANCE LAW
Editors, Reporters:
America’s Community Bankers has urged the Office of the
Comptroller of the Currency to preempt a state law in Rhode Island that
significantly interferes with the ability of banks and thrifts to offer
insurance products to their customers.
The Gramm-Leach-Bliley Act permits state laws to remain only
when they are “substantially the same as but no more burdensome or
restrictive than” any of the 13 safe harbors in the G-L-B Act.
ACB said that “none of the state actions in question are
protected by the safe harbors.”
ACB’s Comment Letter is LINKED
America’s Community Bankers is the national trade association committed to shaping the future of
banking by being the innovative industry leader strengthening the competitive position of
community banks. To learn more about ACB, visit
www.AmericasCommunityBankers.com.
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