Who's next for FDIC scrutiny of crypto firms? Plus, earnings, credit unions, and the FHFA

When regulators looked askance at one crypto firm that suggested its customers' dollars were FDIC insured, it set off a panic: who would be next? Read more: Voyager is the tip of the iceberg.

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FHFA will “reexamine” role of Federal Home Loan Banks: Thompson: 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 FHLB system.

Surplus deposits start to flow out of Northern Trust: 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.

Anchorage Digital Bank to provide custody for iHeartMedia NFTs: The crypto custody technology company, which became a national bank with OCC approval last year, is building a business in digital art and entertainment.

Why some credit unions are crossing state lines: 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.