Why are banks pushing to ban stablecoin yield payments?

[bonk]

Banking groups, including the American Bankers Association, argue that stablecoin yields act like deposit accounts and could lead to a flight of funds from banks. They say this poses a systemic risk to bank deposits and that banning these payments would close a loophole in the GENIUS Act, which previously restricted stablecoin issuers from offering yields on their tokens.

[kevin1]

stablecoins giving yields = scary
banks giving overdraft fees = totally fine lol