Techub News: Eric Trump tweeted that large banks are actively lobbying to prevent Americans from earning higher savings yields and to block crypto platforms from offering stablecoin returns or rewards above 4-5%. He pointed out that these banks pay extremely low interest rates on regular savings accounts (usually only 0.01% to 0.05%), while the Federal Reserve pays them interest rates as high as 4% or more. This huge interest rate spread generates bank profits but is hardly returned to customers. Eric Trump stated that lobbying groups like the American Bankers Association are spending millions of dollars opposing bills such as the Clarity Act, aiming to maintain their low-interest rate monopoly and prevent deposit outflows.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin