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Zelle payment fraud gets major banks sued by CFPB

Hosted on MSN · 2d

Zelle payment fraud gets major banks sued by the CFPB

The CFPB is suing the fintech firm Early Warning Services — the bank-owned company that runs Zelle — as well as JPMorgan Chase, Bank of America, and Wells Fargo, claiming that customers of the banks lost more than $870 million over Zelle's seven-year existence.

Lawyer Monthly · 6h

CFPB Sues JPMorgan, Bank of America, Wells Fargo Over Zelle Fraud

CFPB sues Zelle and three banks for fraud on the peer-to-peer network, seeking penalties and redress for over $870M in losses.

Winston-Salem Journal · 4h

Nation's three-largest banks sued by federal regulators over alleged Zelle-related fraud

Bank of America Corp., JPMorgan Chase & Co., and Wells Fargo & Co. — and the operator of the Zelle payment network are

Crowdfund Insider2d

CFPB Claims Regarding Zelle Losses May Be Exagerated

Earlier this week, the Consumer Financial Protection Bureau (CFPB) announced a lawsuit targeting the big banks that launched ...

CNET on MSN3d

Zelle Accused by CFPB of Leaving Customers Vulnerable to Widespread Fraud

CFPB alleges JPMorgan Chase and other big banks skipped important safety features that put Zelle customers at risk.

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