The government accused three big banks of failing to protect consumers from fraud on the payment network Zelle.

A federal regulator has sued JPMorgan Chase, Wells Fargo and Bank of America. The Consumer Financial Protection Bureau says the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network 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,