That is the minimum amount customers of three giant U.S. banks have lost since payments platform Zelle was launched in 2017, according to a lawsuit by the Consumer Financial Protection Bureau. The ...
The consumer financial watchdog says customers of the top three banks lost more than $870 million over seven years due to a lack of safeguards against fraud on the Zelle network.
The Consumer Financial Protection Bureau sued the operator of Zelle and three of the country's largest banks — JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Wells Fargo (NYSE ...