The A442F transmission doesn't employ bands but multiple clutches. What usually fails in a torque converter is the clutch and that uses a fibrous material so no metal shards.
Local transmission shops don't have a good record with these trannys in my experience. You might check out this link for further help: http://www.westcoastcruisers.com/transfer.php
West Coast Cruisers imports Rodney's Wholesale Automatic Transmissions and parts from Australia and they have a great reputation in the Cruiser community. My 62 has one of Rodney's Extreme A440F with the billet torque converter. The converter itself makes the engine feel like it has an extra 50 ft/lbs of torque.