The American Bankers Association and Independent Community Bankers of America criticized the OCC on Oct. 21, 2026, over its final rule implementing the GENIUS Act. The ABA said the rule removed proposed safeguards against indirect stablecoin yield payments through affiliates, exchanges and other partners, even though issuers cannot pay interest directly.
Both groups warned that stablecoin rewards could draw deposits from banks and limit local lending. The ICBA said its economic analysis suggests widespread payment stablecoin adoption could reduce community bank lending by at least $850 billion in the coming years. That is the association’s projection, not a measured loss.
