Alabama Lawmaker Warns GENIUS Act May Harm Small Banks
Alabama State Senator Keith Kelley has raised alarms regarding the GENIUS Act, which was enacted on July 18, 2025. He warns that it could lead to significant deposit outflows, adversely affecting rural community banks. His concerns echo those of various banking groups who fear the legislation's impact on small financial institutions.
Alabama Lawmaker Warns GENIUS Act May Harm Small Banks
Alabama State Senator Keith Kelley has raised alarms regarding the GENIUS Act, which was enacted on July 18, 2025. He warns that it could lead to significant deposit outflows, adversely affecting rural community banks. His concerns echo those of various banking groups who fear the legislation's impact on small financial institutions.
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