According to CoinMeta, as reported by Bitcoin News, the Independent Community Bankers of America (ICBA) is calling for a complete ban on stablecoin rewards within Clarity Act, opposing the compromise that limits rewards to usage-based behavior rather than holding-based behavior. The ICBA's president and CEO Rebeca Romero Rainey stated that this "loophole" must be completely closed, noting that stablecoins could lead to approximately $1.3 trillion in deposits flowing out of the banking system, which in turn could result in a reduction of about $850 billion in local loans. The report indicates that the opposition from community banks has prompted Republican senators Josh Hawley and Jerry Moran to oppose the current version of Clarity Act, further putting pressure on the bill's chances of gaining the 60 votes required to move forward in the Senate.