Jamie Dimon Says Banks Will Fight the CLARITY Act After May 14 Committee Vote

JPMorgan CEO Jamie Dimon said banks will oppose the CLARITY Act, after the bill cleared the Senate Banking Committee on May 14, 2026. He argued the current draft would let crypto platforms offer deposit-like yields on stablecoin balances without bank-equivalent capital, liquidity, and AML/KYC obligations. Dimon also criticized Coinbase CEO Brian Armstrong's lobbying push, while Coinbase said banks are seeking regulatory capture to protect net interest margins.