Zelle payment fraud gets major banks sued by CFPB

Zelle and major banks face $870 million lawsuit over alleged fraud losses
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against the peer-to-peer payment network Zelle and three US banks that conduct or facilitate transactions on
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.
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.
Three of the biggest US banks are facing a lawsuit for ‘widespread fraud’ on Zelle
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Zelle and three banks that own it — Wells Fargo, Bank of America, and JPMorgan Chase — claiming they failed “to protect consumers from widespread fraud.
Operator of Zelle, three banks, accused of failing to protect consumers from fraud
Federal regulators sued the operator of Zelle, the popular payment app, and three large banks, saying they failed to protect consumers from widespread fraud. NBC News' Brian Cheung reports on the lawsuit and the response from Zelle and the banks.
JPMorgan, Wells Fargo, BofA facing federal lawsuit over Zelle payment network fraud
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,
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
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.
Feds sue Bank of America, Wells Fargo for failing to stop ‘widespread’ Zelle fraud
The Consumer Financial Protection Bureau made the announcement Friday and claims that Americans have lost hundreds of millions of dollars to fraud connected to poor safeguards for the peer-to-peer payment network. JPMorgan Chase is also listed in the lawsuit.
Consumer Finance Watchdog Sues Zelle, Bank of America, JPMorgan Chase, Wells Fargo
The Consumer Financial Protection Bureau (CFPB) alleged that various factors, including Zelle's relatively 'limited identification methods', allowed fraud to run rampant.
More than $125 million is stolen every year on Zelle. The feds say little is done to stop it.
A lawsuit filed by the CFPB says Zelle and the big banks that own it left the platform vulnerable to fraud in an effort to ...
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Zelle fraud
The Consumer Financial Protection Bureau sued the operator of Zelle, as well as Bank of America, JPMorgan Chase and Wells ...
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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 ...
Protect Your Money From Zelle Scams
A lawsuit from the CFPB proves just how popular the peer-to-peer service is with fraudsters, and what makes it especially ...
Victims warn others of popular scam using Zelle that duped them out of thousands
It’s become a common scheme – scammers calling you pretending to be with your bank wanting you to use Zelle to send money.