Federal Reserve Board Vice Chairman Alice M. Rivlin told Congress Tuesday that the central bank has no plan to exit the check- processing business.

Testifying before a House Banking subcommittee, Ms. Rivlin also rebutted charges that the Fed competes unfairly.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.