Allan Colley retweetledi
Let me make this very clear: Big Banks (think JPMorgan Chase, Bank of America, Wells Fargo, etc.) are lobbying overtime to block Americans from getting higher yields on their savings—while trying to block any rewards or perks from being given to customers.
These banks, and others, pay rock-bottom rates on standard savings (often 0.01%–0.05% APY), even as the Fed pays them 4% or more. This massive spread fuels record profits, with almost none passed back to their customers / everyday depositors.
Today, the banks are desperately targeting crypto/stablecoins, where platforms plan to offer 4–5%+ yields or rewards. The ABA and other lobbyists are spending millions trying to ban or restrict those yields via bills like the Clarity Act, crying “fairness” and using words like "stability"—when it's really about protecting their low-rate monopoly and preventing deposit flight. This is anti-retail, anti-consumer, and straight-up anti-American.
Next time you see a big bank dropping billions on a shiny new Midtown Manhattan HQ, you know exactly where that money comes from: the non-existent interest rate they “pay” you!
Fortunately, the big banks are losing this fight as customers wake up to the games…
@worldlibertyfi
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