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Executives said Wednesday that more than half of the deposits that left the Chicago trust bank were “nonoperational” in nature, or excess funds that institutional investors are moving elsewhere for higher returns. The outflow wasn’t unexpected as interest rates rise.

Brooke Ybarra, who joined the organization in September 2021, will oversee the division that explores new technologies and the policy questions that arise.

The payments giant Visa is in talks to join an extension of the fintech startup Airwallex’s latest funding round, according to people familiar with the matter.

Unlike some of its peers, the Dallas bank says the U.S. economy is strong, clients are upbeat and lending momentum continues.

The crypto firm Voyager got in hot water for implying its deposits were federally insured. Policymakers and experts say it isn’t the only one.

To make up for slow growth on their home turf, some credit unions are looking to other states for new members and loans — a move that rankles banks that see such expansion as overreach.

The New York bank reported a double-digit increase in profits in the second quarter. But larger than expected deposit withdrawals — some by cryptocurrency-business customers — raised questions about its ability to fund growth and hurt its stock Tuesday.

Federal Housing Finance Agency Director Sandra L. Thompson told lawmakers on Wednesday that the agency would consider “foundational questions about mission, purpose, and organization” of the Home Loan Bank System.

This week in global news, Coinbase gets licensed in Italy, but Binance and Starling Bank face setbacks elsewhere in Europe.

NBT Bancorp’s planned $10 million commercial real estate fund could have a big upside for its CRA rating, while also improving housing in its communities.