The North Carolina Bankers Association is mobilizing its members to influence the Senate Banking Committee's upcoming markup of the Clarity Act. An internal email from a Wilmington-based bank reveals that the association is urging banks to contact Senator Thom Tillis's office to express concerns over the current stablecoin yield provisions. The email criticizes the existing compromise text for failing to prevent deposit flight to stablecoins and provides a pre-written message for employees to deliver, advocating for a strict prohibition on yield-like payments for stablecoins. This move reflects growing dissatisfaction among banks with the proposed legislation and their push for last-minute amendments.
North Carolina Bankers Urge Action on Stablecoin Yield Provisions
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