According to CoinMeta, Jane Fraser, CEO of Citigroup ( Jane Fraser ), supports the passage of the Clear Act and continues to push for modifications to the stablecoin incentive rules in order to address the main concerns of the banking industry regarding this legislation. In an interview with Fox Business Channel on Thursday, Fraser stated that Citigroup hopes legislators will improve certain aspects of the bill, but she supports the feasible version passed by Congress because she believes it will be beneficial to the financial system. She pointed out that stablecoin incentives could have a negative impact on deposits at American banks, especially those institutions that rely on these funds to provide loans to communities. Banking industry groups made similar arguments during the negotiations over the Clear Act, warning that vague incentive provisions could encourage customers to transfer their funds from traditional bank accounts to stablecoins, thereby reducing the deposits available for community lending.