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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.

The Verge on MSN · 2d

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.

CNET on MSN2d

Zelle Accused by CFPB of Leaving Customers Vulnerable to Widespread Fraud

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

2d

Watchdog accuses Zelle, banking giants of failing to protect users against fraud

The government’s consumer watchdog alleged Zelle and three banking giants failed to protect users from fraud on the ...

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 ...

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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