Political Quotes

Cynthia Lummis: “Some community banks are suggesting stablecoins are driving deposit flight. The data says otherwise: BofA shows…”

On the recordAugust 16, 2026
Some community banks are suggesting stablecoins are driving deposit flight. The data says otherwise: BofA shows household deposits rising across income groups this year, and the FDIC reports domestic deposits grew for a seventh straight quarter.
Said by
Cynthia Lummis
Republican · Wyoming

Editor's note · Context

Countering claims about stablecoins affecting bank deposits.

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