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America’s Community Bankers has filed comment letters supporting the implementation of two provisions of the Gramm-Leach-Bliley Act.

• ACB urged the Office of the Comptroller of the Currency to preempt Massachusetts law and regulations governing the sale of insurance by banks. ACB said the state’s prohibition on referrals and fees and the waiting period requirement on offering insurance, would “effectively prevent depository institutions from engaging in solicitation and cross marketing activities.”

The Gramm-Leach-Bliley Act preempts state laws that significantly interfere with the ability of depository institutions to provide insurance services. ACB supported the preemption at the request of ACB member banks in Massachusetts.

• ACB supported a proposal by the Federal Reserve Board requiring operators of automated teller machines to disclose before a transaction is completed that a fee may be charged, the amount of the fee, and that a fee also may be charged by the customer’s own financial institution.

“ACB believes that this proposal does not pose a significant regulatory burden because many of the entities affected are already in compliance with the proposal,” ACB said. But ACB suggested a transition period to allow institutions and operators not currently in compliance to make the necessary changes. The proposal includes a temporary exemption until Dec. 31, 2004, for ATMs that lack the capability to provide the required disclosures.

ACB’s letter is linked