Money market funds

Bank of America warns major threat could wipe trillions out of US banks

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Bank of America warns major threat could wipe trillions out of US banks

Brian Moynihan issued a grim warning about stablecoins. During a Jan. 15 earnings call, Bank of America’s CEO told analysts that as much as $6 trillion in deposits could migrate out of the U.S. banking system into stable currencies, about 30 percent to 35 percent of all U.S. commercial bank deposits. Moynihan attributed the projection … Read more

Wealthy Americans are moving cash out of checking and savings accounts. Here’s what they do with it

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Wealthy Americans are moving cash out of checking and savings accounts. Here’s what they do with it

Rawpixel/Envato Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. Consumer confidence fell sharply in November, falling to its lowest point since April, when concern about President Trump’s tariffs fueled economic anxiety (1). Possibly as a result, the Americans pulled back on spending. A delayed report from the … Read more