AmericasCUs supports most provisions of the Clarity Act, calling for strengthened stablecoin yield clauses

According to Odaily, a Fox Business crypto reporter posted on X that former TheNCUA Chairman Rodney Hood stated last week that credit unions play an important role in the modernization of the financial system. Several days later, AmericasCUs and the credit union leagues from all 50 US states voiced support for most of the Clarity Act's provisions, but echoed the banking industry's concerns about the bill's stablecoin yield clauses and urged senators to strengthen the wording. These groups believe the current Tillis-Alsobrooks compromise may still allow for "functionally passive" reward structures, which could lead to deposit outflows from local credit unions.