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.
One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle, the popular ...
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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