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This is the first time the agency has had a vice chairman since 2014.

The Federal Reserve's “midcycle” assessment — conducted in light of the COVID-19 pandemic — said the path of the economic recovery is still uncertain even though the banks that were evaluated maintained adequate capital levels under hypothetical scenarios.

What President-elect Biden’s pledge to forgive student loans means for consumer lenders; Huntington agrees to buy TCF Financial for $6 billion; banks play catch-up as customer shift to digital accelerates; and more from this week’s most-read stories.

The amendment backed by Sen. Pat Toomey and other Republicans to block the central bank from reviving CARES Act lending facilities has emerged as a flashpoint in congressional negotiations over pandemic relief.

Indonesian internet giant Gojek paid about $160 million to increase its stake in PT Bank Jago, making its biggest investment in financial services to date.

Speaking at a virtual event hosted by the Center for American Progress, Federal Reserve Gov. Lael Brainard said the agency is also seeking feedback on how the Community Reinvestment Act could be used to encourage lenders to invest in climate resiliency.

The spending plan passed in a party-line vote, but board member Todd Harper's objections indicate he could push for closer oversight if President-elect Joe Biden elevates him to the chairmanship.

The agency's rule outlines steps collectors must take to inform consumers about an outstanding debt, and prohibits companies from pursuing lawsuits after a statute of limitations has ended.

Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state.

Moore led development of Bank of America's virtual assistant, Erica, and was American Banker's Digital Banker of the Year in 2017.