Citigroup's CEO supported the Clarity Act, but warned that the stabilization money incentive could harm banks

The Chief Executive Officer of Citigroup, Jane Fraser, supported the adoption of the Clarity Act, while continuing to promote changes in the rules for the incentive to stabilize the currency in order to address the main concerns of the banking sector about the Act. In an interview with the Fox Business Channel on Thursday, Fraser stated that Citi would like legislators to improve parts of the bill, but she supported the adoption of a feasible version of Congress, which she believed would benefit the financial system. She noted that money stabilization incentives could have a negative impact on bank deposits in the United States, particularly those institutions that relied on those funds to provide loans to their communities. The banking community made similar arguments in the negotiation of the Clarity Act, warning that unclear incentive clauses might encourage customers to transfer funds from traditional bank accounts to stable currency payments, thereby reducing the amount of savings available for community loans。