CFPB drops lawsuit against banks behind payment system Zelle
The CFPB, under acting director Russell Vought, dropped a lawsuit today against three of the largest banks in the U.S. The banks are co-owners of the peer-to-peer payment system Zelle and had been accused of failing to “take meaningful action” against fraud that cost customers $870 million.
The Zelle platform hit $1 trillion in transactions over its network in a single year among its 151 million enrolled users, ...
One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle, the popular ...
JPMorgan Chase Bank (Chase) is about to implement new restrictions on Zelle payments to combat a sharp increase in scams ...
The U.S. Consumer Financial Protection Bureau (“CFPB”) dismissed a sweeping lawsuit against JPMorgan JPM, Bank of America Corp. BAC and Wells Fargo & Co. WFC for failing to pr ...
But Zelle is not an antifraud police force. The entire concept of the service is that you pay nothing for the money transfer, ...
It can be next to impossible to get your money back from a digital payment app scam. Here's how to avoid becoming a victim.
If the government wins this fight with Zelle, the users will pay more. That hardly sounds like a way to "protect" consumers.
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