[Independent Community Bankers of America Calls for Comprehensive Ban on Stablecoin Rewards, Citing Potential $1.3 Trillion Deposit Outflow] Odaily Planet Daily News – The Independent Community Bankers of America (ICBA), representing approximately 5,000 community banks in the United States, is opposing the Digital Asset Market Clarity Act (CLARITY Act). ICBA President and CEO Rebeca Romero Rainey stated that the "loopholes" related to stablecoin rewards must be completely closed, with no room for compromise. The ICBA claims that stablecoins could lead to a $1.3 trillion outflow of deposits from the banking system and reduce local lending by $850 billion. The association has urged Republican Senators Josh Hawley and Jerry Moran to oppose the current version of the bill. Rebeca Romero Rainey emphasized that there is no evidence suggesting that cryptocurrencies would replace these deposits and reinvest them into local communities. She also criticized the White House Council of Economic Advisers (CEA) report, "The Impact of Stablecoin Yield Bans on Bank Lending," for downplaying concerns about deposit outflows from banks. The Senate is scheduled to vote on the CLARITY Act on September 15; if it fails to secure the support of at least 60 senators, the bill will not proceed to further deliberation and may be halted for the foreseeable future. (Bitcoin.com News)