ICBA and other groups sent a letter to the FDIC requesting an extension of the comment period for the FDIC’s notice of proposed rulemaking on approval requirements for issuance of payment stablecoins by subsidiaries of FDIC-supervised insured depository institutions. ICBA and the other groups said stakeholders need sufficient time to consider how this NPR would interact with the GENIUS Act’s complex and novel regulatory framework for payment stablecoins.