{"id":286920,"date":"2026-05-14T18:01:46","date_gmt":"2026-05-14T22:01:46","guid":{"rendered":"https:\/\/ncrc.org\/?p=286920"},"modified":"2026-05-14T18:01:46","modified_gmt":"2026-05-14T22:01:46","slug":"ncrc-warns-senate-crypto-bill-leaves-stablecoin-loophole-that-could-undermine-community-lending","status":"publish","type":"post","link":"https:\/\/ncrc.org\/ncrc-warns-senate-crypto-bill-leaves-stablecoin-loophole-that-could-undermine-community-lending\/","title":{"rendered":"NCRC Warns Senate Crypto Bill Leaves Stablecoin Loophole That Could Undermine Community Lending"},"content":{"rendered":"

In response to the US Senate Banking Committee advancing the Clarity Act today, the National Community Reinvestment Coalition\u2019s (NCRC) President and CEO Jesse Van Tol issued the following statement:<\/span><\/p>\n

\u201cNCRC is concerned that the bill\u2019s stablecoin \u2018yield\u2019 prohibition may be too easy to evade. While the bill appears to prevent companies from paying consumers interest simply for holding stablecoins, it allows rewards tied to activity, loyalty, tenure and other product use. In practice, a wallet provider could tell a consumer: \u2018You are not earning interest but if you keep $5,000 in stablecoins in your wallet and make five payments this month, we will pay you a reward.\u2019 That reward could come as cash back, extra stablecoins, fee rebates, platform credits or discounts.<\/span><\/p>\n

\u201cFor the consumer, this may function much like interest on a bank account, even if the company calls it a reward. If stablecoin firms can use balance-based or tenure-based rewards to compete with insured deposits, they could draw funds away from local lending that support mortgage loans, small business credit and community development. The bill should close this loophole and ensure that stablecoin products cannot mimic bank deposits without bank-like consumer protections, public accountability and community reinvestment obligations.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

NCRC is concerned that the bill\u2019s stablecoin \u2018yield\u2019 prohibition may be too easy to evade. While the bill appears to prevent companies from paying consumers interest simply for holding stablecoins, it allows rewards tied to activity, loyalty, tenure and other product use.<\/p>\n","protected":false},"author":951,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_angie_page":false,"content-type":"","_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"page_builder":"","footnotes":""},"categories":[2433],"tags":[],"class_list":["post-286920","post","type-post","status-publish","format-standard","hentry","category-pr"],"acf":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false},"uagb_author_info":{"display_name":"NCRC","author_link":""},"uagb_comment_info":0,"uagb_excerpt":"NCRC is concerned that the bill\u2019s stablecoin \u2018yield\u2019 prohibition may be too easy to evade. While the bill appears to prevent companies from paying consumers interest simply for holding stablecoins, it allows rewards tied to activity, loyalty, tenure and other product use.","_links":{"self":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/286920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/users\/951"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/comments?post=286920"}],"version-history":[{"count":0,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/286920\/revisions"}],"wp:attachment":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/media?parent=286920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/categories?post=286920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/tags?post=286920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}