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.
If Chase suspects you may be trying to use Zelle over social media, the company may block or delay the payment while it verifies your identity and the person sending or receiving money.
Chase said that Zelle was intended as a method of transferring money to family, friends, and other trusted contacts, and should never be used to make online purchases … Peer-to-peer payment apps ...
Chase Bank will be blocking Zelle payments to sellers on social media platforms and messaging apps starting March 23. The banking company updated its user policy on Monday (via Bleeding Computer ...
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Here is a list of our partners and here's how we make money. Zelle, a peer-to-peer money transfer service and digital payment network, lets businesses accept bank transfer payments, typically free ...
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