The Senate is scheduled to consider the Clarity Act upon returning from recess. Small banks, including those in Minnesota, are voicing concerns about the legislation. They claim it would put them at a competitive disadvantage.

Further details about the Clarity Act and its potential impact are available from the source. The legislation is set to be taken up by the Senate this week.

Small banks are at the forefront of opposition to the bill, which they believe would hinder their competitiveness.