[Eight Banking Industry Associations: CLARITY Act's Circuit Breaker Mechanism Is Not a Guarantee] Odaily Planet Daily News — According to crypto journalist Eleanor Terrett, eight banking industry trade groups have stated that the newly revised CLARITY Act's deposit outflow 'circuit breaker mechanism' is not an effective safeguard, as the mechanism only activates after large-scale deposit outflows have already occurred. These groups, in a letter to Senate leaders, called for further tightening of provisions related to stablecoin rewards to close potential loopholes that might allow stablecoin balances to receive interest-like payments.