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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 · 1d

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.

UPI News on MSN · 1d

CFPB sues Zelle operator, major banks over failure to counter fraud

Three of the largest U.S. banks rushed the Zelle digital payment system to market "without implementing effective consumer safeguards," according to a lawsuit filed Friday by a federal government agency.

Crowdfund Insider21h

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 ...

Digital Transactions2d

The CFPB Sues Early Warning, BofA, Chase, And Wells Over Zelle Fraud

Besides the three defendants in the CFPB suit, Early Warning is owned by Capital One, PNC Bank, Truist, and U.S. Bank. It ...

CNET on MSN1d

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.

1d

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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