PANews August 15 news, according to Coindesk reports, the American Bankers Association and other banking lobbying groups jointly with the American Financial Reform Organization (often a staunch opponent of Wall Street policy goals) and the National Consumer Law Center and 52 other banking organizations, sent a joint letter to the leaders of the Senate Banking Committee, requesting amendments to the stablecoin bill known as the GENIUS Act. In one letter, the banking lobby and consumer groups requested the removal of a provision in the bill that allows state-chartered, uninsured deposit institutions to gain a competitive advantage; in another letter, bankers requested a ban on yield generation by stablecoin-affiliated companies. The lobbyists called for a complete overhaul of the new stablecoin bill using future cryptocurrency market structure legislation.