CRJ-700 flight crew reported engine failure during departure climb. Diverted to departure airport and landed uneventfully.

Narrative

On Day 0 I was operating Aircraft X from ZZZ as Pilot Flying First Officer. This was my first flight in the CRJ700 type on my second IOE trip. On departure from ZZZ on Gate XX; flying the ZZZZZ SID; around 2 minutes after takeoff I heard a loud bang" and felt the airplane yawing. I immediately applied rudder pressure instinctively to counter the yaw. I looked at Engine Display 1 and all engine indications for ENGINE#2 were amber/missing/no data. I knew we lost an engine but did not know the extent of the damage since it appeared there was no feed to the computers (flameout; engine fire; structural damage etc. extent was unknown at the time). We leveled off at 6;000 MSL and informed departure we were having engine issues. We split our duties as PF/PM and I flew the airplane working the radios and maintaining a steady 250 KIAS while my CA (acting PM) completed the reference card; associated QRH; after takeoff checklist again (which was completed earlier prior to the failure); and then informed dispatch and the flight attendants. When the checklist called for the R ENGINE FIRE PUSH switch light to be pressed; we then had the Engine Display 1 indications for the R ENGINE reappear instead of being amber/missing data - which were consistent with a windmilling engine producing no thrust in my limited experience fresh from initial qualification training in the simulator. We requested priority handling and returned to the field in ZZZ when we received the numbers and runway assignment from the ZZZ [TRACON] controller; requesting the Airport Rescue and Firefighting (ARFF)/trucks to meet us on the ground since the damage was unknown in nature. We did not attempt a restart in-air because we did not know why the engine failed and it appeared our EICAS data was unreliable. We flew a visual approach to runway XXC; originally backing up with the ILS for vertical navigation before the tower informed us the glide slope was out of service - the CA then loaded the FMS Visual XXC. It was not originally sequenced correctly so I disconnected autopilot; then once it was sequenced properly; reengaged autopilot. I disconnected autopilot to then get a feel for the handling of the single engine CRJ-700; and landed visually using the PAPIs as my guidance to the runway. We determined we were able to exit the runway; where ARFF inspected our right hand engine. We canceled the priority handling condition with tower when assured that the ARFF vehicles would remain with us on frequency and would follow us to the gate. They determined no visible damage to the engine and no fire; so we were able to single engine taxi back to the gate. We called station ops for a gate assignment; and held short of the gate on ramp awaiting the ground crew to marshal us in to the gate for about 5 minutes with the brakes set. I was ready to call dispatch upon arrival but my CA instead called. The shutdown procedure and checklist were performed; where I then greeted the passengers and the forward FA to confirm nobody was injured and everyone onboard was safe. After all passengers deplaned; I completed a post-flight inspection; but primarily focused on the right engine and pylon. I did not see any damage or unusual appearance of the right hand engine; consistent with ARFF's inspection. Cause: We are unsure why this event occurred. There were MELs in place for both Full Authority Digital Electronic Control which we reviewed prior to push. 73-XX-XX and 73-XX-XX."