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Zelle, CFPB and Wells Fargo

JPMorgan Chase, Bank of America and Wells Fargo sued for failing to prevent fraud on Zelle

The Consumer Financial Protection Bureau said Friday it filed a complaint against three of the country’s largest banks and the operator of Zelle, the most widely available peer-to-peer payment system,

Law · 2d

CFPB Takes on BoA, Wells Fargo and JPMorgan Chase Over Zelle Fraud

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at the banks lost more than $870 million to fraud since Zelle's inception.

NPR · 3d

In a lawsuit, CFPB says 3 top U.S. banks failed to protect consumers from Zelle fraud

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.

CBS News2d

Feds sue Zelle, alleging that nation's biggest banks failed to stop fraud

"The CFPB's headline-grabbing number is misleading ... transactions are completed without dispute. A spokesperson for Wells Fargo declined to comment. Bank of America did not immediately respond ...

Seeking Alpha3d

CFPB sues JPMorgan, BofA, Wells Fargo over fraud on Zelle (upated)

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 ...

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Zelle, CFPB and Wells Fargo

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