JPMorgan, BofA and Wells Fargo Sued Over Alleged Zelle Fraud
The Consumer Financial Protection Bureau sued JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. along with the parent company of Zelle alleging the firms rushed a peer-to-peer payment network to market without first implementing adequate consumer protections.
The federal government claims Early Warning Services, the Scottsdale-based operator of Zelle, along with three banks, failed ...
Bank of America, JPMorgan Chase and Wells Fargo ignored customer complaints related to Zelle, with users losing hundreds of millions of dollars in scams, the regulatory agency alleges. Zelle ...
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