Techub News reported by Coindesk that the American Bankers Association and other banking lobby groups have joined 52 banking organizations, including the American Financial Reform Organization (a staunch opponent of Wall Street policy goals) and the National Consumer Law Center, to jointly write to the leaders of the Senate Banking Committee, requesting amendments to the stablecoin legislation known as the "Guiding and Establishing the United States Stablecoin National Innovation Act" (GENIUS Act). In one letter, the banking lobby groups 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 stablecoin affiliates providing yields. The lobbyists are calling for a complete overhaul of the new stablecoin bill using future cryptocurrency market structure legislation.