[134 U.S. Bank Executives Urge Senate to Amend CLARITY Act Stablecoin Provisions] Odaily Planet Daily News: 134 U.S. banking association officials and bank executives have urged the Senate to revise Section 10404 of the CLARITY Act before its final passage to strengthen restrictions on paying interest and returns on stablecoins. Relevant banking representatives hope lawmakers will expand the scope of restrictions to prevent companies from offering similar economic benefits for holding stablecoins through rewards, incentives, or other arrangements. They stated that if stablecoins can attract and retain balances through interest-like rewards, the funding base supporting local loans could be weakened by hundreds of billions of dollars. The letter argues that deposits are the foundation for issuing loans to households, small businesses, farmers, and local employers. The signatories stated that clear rules could allow the development of payment stablecoins while preserving financing channels that support community lending.