Protect Community Lenders, Protect Working Families
Tell the Senate Banking Committee: Close the Stablecoin Loophole
America’s community banks and credit unions are the backbone of our economy. They provide working families, farmers, and small businesses with the affordable credit they need to pursue the American dream. But a dangerous loophole in our financial system is threatening to put all of that at risk.
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The Problem
Right now, cryptocurrency companies are exploiting a loophole that lets them offer financial “rewards” at the direct expense of local lenders. These incentives may look attractive on the surface, but the real cost is staggering. Deposits are being pulled away from community financial institutions, draining the resources that families and small businesses depend on for mortgages, farm loans, and affordable credit. The deposits that are being pulled into stablecoin are not being invested in local communities.
$6.6 trillion in bank receipts are at risk, according to President Trump’s own Treasury Department.
Underserved communities red and blue alike will be hit hardest, as local lenders are left without the deposits they need to serve their neighbors.
Farmers, working-class families, and small businesses will pay the price, facing fewer options and higher costs for credit.
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A Growing National Risk
Cryptocurrency interests are already exploiting this loophole.
By siphoning away resources from our community banks, they are not just weakening America’s financial backbone, they’re creating a dangerous dependency that could reshape our economy in their favor.
If banks become reliant on crypto to function, American consumers and our financial system will be exposed to unnecessary risk.
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The Solution
The Senate Banking Committee must act now. By closing the loophole that crypto companies are abusing, Congress can:
✅ Protect community banks and credit unions.
✅ Safeguard affordable credit for working families, farmers, and small businesses.
✅ Strengthen America’s financial independence against foreign manipulation.
Take Action
We can no longer let crypto interests undermine the foundation of our communities. It’s time to protect the people and institutions who make the American dream possible.