The Bank Policy Institute renewed its criticism of the OCC’s final stablecoin rule in an October 24, 2026, newsletter. The banking trade group says the OCC’s case-by-case approach leaves unclear how it will judge arrangements that pay stablecoin holders through third parties. It objects to the removal of a proposed presumption covering certain arrangements and says the replacement lacks a clear process for explaining decisions and making outcomes public.
The dispute concerns how the rule applies the ban on issuer-paid yield, not the whole rule. BPI’s concern that deposits could move into stablecoins is a forecast, not evidence of a measurable outflow caused by the rule. The OCC says the broader rule takes effect January 18, 2027, and that separate work will address anti-money-laundering and sanctions requirements.
