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Even with the pandemic's dramatic shift to online commerce, TIAA Bank's Claudia Tabacinic says there's still room to migrate consumers, and lingering reluctance to embrace new technology.

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says.

The $10 billion portfolio of what are described as high-quality private student loans will be serviced by Nelnet.

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.