{"id":561372,"date":"2021-06-11T18:07:20","date_gmt":"2021-06-11T22:07:20","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=561372"},"modified":"2021-06-11T18:07:22","modified_gmt":"2021-06-11T22:07:22","slug":"report-banks-discouraging-cash-deposits","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-banks-discouraging-cash-deposits\/","title":{"rendered":"Report: Banks discouraging cash deposits"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">10<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-banks-discouraging-cash-deposits%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=561372&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2421593\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2421593\" class=\"wp-caption-text\">Dollar bills have been dropped into a tip jar at a carwash in the Brooklyn borough of New York. (AP Photo\/Mark Lennihan, File)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 3:04 PM PT \u2013 Friday, June 11, 2021<\/h5>\n<p>Banks have announced they no longer want cash deposits, particularly from their corporate customers who say they\u2019re flushed with cash. According to recent reports, banks are describing their current cash flow as \u201ctoo much.\u201d<\/p>\n<p>With companies loaded with cash and interest rates near zero, banks are stressing they are unable to make a profit by lending the cash to borrowers. Reports said deposits have surged this year, jumping from $411 billion to more than $17 trillion between the months of March and May.<\/p>\n<div id=\"attachment_2421655\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-2421655\" loading=\"lazy\" class=\"size-large wp-image-2421655\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/verizon-655x437-1.jpg\" alt=\"A man stands in front of the Verizon logo at the Mobile World Congress (MWC) in Barcelona on February 25, 2019. - Phone makers will focus on foldable screens and the introduction of blazing fast 5G wireless networks at the world's biggest mobile fair starting February 25 in Spain as they try to reverse a decline in sales of smartphones. (Photo by GABRIEL BOUYS \/ AFP) (Photo credit should read GABRIEL BOUYS\/AFP via Getty Images)\" width=\"655\" height=\"437\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/verizon-655x437-1.jpg 655w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/2021\/06\/verizon-315x210.jpg 315w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/2021\/06\/verizon-768x512.jpg 768w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/2021\/06\/verizon.jpg 1024w\" sizes=\"auto, (max-width: 655px) 100vw, 655px\"  style=\"display:none\"><\/p>\n<p id=\"caption-attachment-2421655\" class=\"wp-caption-text\">A man stands in front of the Verizon logo at the Mobile World Congress (MWC) in Barcelona on February 25, 2019. (GABRIEL BOUYS\/AFP via Getty Images)<\/p>\n<\/div>\n<p>\u201cWe have been operating with a higher cash balance for about 12 months now,\u201d said Chief Financial Officer of Verizon Communications Inc., Matthew Ellis. \u201cThere\u2019s been no decision yet if and what to bring it down.\u201d<\/p>\n<p>This comes as the Biden administration is flooding the country with more cash and is seeking even more spending amid inflation concerns.<\/p>\n<h4>MORE NEWS: <a href=\"https:\/\/www.oann.com\/mcconnell-rep-ocasio-cortez-cant-even-sell-her-far-left-agenda-to-her-own-party\/\">McConnell: Rep. Ocasio-Cortez Can\u2019t Even Sell Her Far-Left Agenda To Her Own Party<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Dollar bills have been dropped into a tip jar at a carwash in the Brooklyn borough of New York. (AP Photo\/Mark Lennihan, File) OAN NewsroomUPDATED 3:04 PM PT \u2013 Friday, &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2280073,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/verizon-655x437-1.jpg","fifu_image_alt":"Report: Banks discouraging cash deposits","footnotes":""},"categories":[],"tags":[],"class_list":["post-561372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/verizon-655x437-1.jpg","fifu_image_alt":"Report: Banks discouraging cash deposits","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/561372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=561372"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/561372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2280073"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=561372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=561372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=561372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}