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Zelle payment fraud gets major banks sued by CFPB

Mashable on MSN · 1d

Zelle payment fraud gets major banks sued by the CFPB

The CFPB is suing the fintech firm Early Warning Services — the bank-owned company that runs Zelle — as well as JPMorgan Chase, Bank of America, and Wells Fargo, claiming that customers of the banks lost more than $870 million over Zelle's seven-year existence.

Hosted on MSN · 2d

CFPB sues America's largest banks for 'allowing fraud to fester' on Zelle

The Consumer Financial Protection Bureau is suing America's three largest banks, accusing the institutions of failing to protect customers from fraud on Zelle, the payment platform they co-own.

CBS News on MSN · 2d

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

Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.

Crowdfund Insider1d

CFPB Claims Regarding Zelle Losses May Be Exagerated

Earlier this week, the Consumer Financial Protection Bureau (CFPB) announced a lawsuit targeting the big banks that launched ...

CNET on MSN2d

Zelle Accused by CFPB of Leaving Customers Vulnerable to Widespread Fraud

The watchdog alleges JPMorgan Chase and other big banks skipped important safety features that put Zelle customers at risk.

2d

Powerless Against Financial Scams, The CFPB Scapegoats The Big Banks

The CFPB apparently can’t see that its lawsuit will give bank customers the real Gordon Tullock, and in the worst way ...

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