US Treasury Department

The Bank of America warns that a major threat could push trillions out of American banks

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The Bank of America warns that a major threat could push trillions out of American banks

Brian Moynihan made a dire warning about stablecoins. During a January 15 earnings call, the CEO of Bank of America told analysts that as much as $6 trillion in deposits could migrate from the US banking system to stablecoins, roughly 30% to 35% of total US commercial bank deposits. Moynihan attributed the projection to US … Read more

Northwestern University must pay $75 million to the US federal government after allegations of antisemitism

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Northwestern University must pay million to the US federal government after allegations of antisemitism

The settlement with Northwestern was the second-highest payout since the Trump administration began investigating anti-Semitism at academic institutions, according to the New York Times. Northwestern University will pay $75 million over the next three years to the US Treasury Department, which will close investigations into campus antisemitism, the institution announced on Friday. The institution’s payment … Read more