PANews reported on May 13th that, according to Cryptopolitan, five major U.S. labor unions sent a letter to senators ahead of Thursday's Senate Banking Committee vote, urging them to oppose the CLARITY bill. These unions, representing tens of millions of public and private sector workers, warned that the bill would expose workers' retirement savings and public pensions to the risks of cryptocurrency volatility. Organizations such as the AFL-CIO stated that embedding cryptocurrencies into the real economy would have destabilizing effects, causing losses for ordinary workers. The American Bankers Association had previously expressed its opposition, stating that the bill would "unnecessarily incentivize the outflow of bank deposits." Michael Saylor, executive chairman of Coinbase and Strategy, supports the bill. The Senate Banking Committee will consider the bill on Thursday; it remains uncertain whether Democrats will vote in favor, with ethics and conflict-of-interest clauses remaining major obstacles.