[American Bankers Association Criticizes OCC Stablecoin Rule: Leaves a Loophole for Third-Party Yield Distribution] According to The Block, Rob Nichols, CEO of the American Bankers Association (ABA), issued a statement criticizing the Office of the Comptroller of the Currency (OCC) for implementing the final stablecoin rule under the GENIUS Act, claiming it goes against Congress's legislative intent to protect local credit. The new rule removes the clause from the previous proposal that presumed 'specific arrangements between issuers and third parties to be unlawful,' allowing platforms like Coinbase to continue offering stablecoin yields to users. Nichols argued that this loophole blurs the line between payment stablecoins and bank deposits, and addressing the issue only after deposit outflows occur is a 'mistaken approach.'