Zelle, Bank of America and CFPB

CFPB Sues Major Banks Over Zelle Fraud Response
Zelle is used by many people to quickly and conveniently send money electronically from their credit card or bank account.
Fraud on a Billion-Dollar Scale? CFPB Takes on Zelle and Big Banks in Explosive Lawsuit
The Consumer Financial Protection Bureau (CFPB) recently filed a lawsuit against Early Warning Services, the operator of the Zelle payment platform, along with Bank of America, JPMorgan Chase, and Wells Fargo.
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.
Three Big Banks Sued by CFPB Over Zelle Scams
Three of the biggest U.S. banks are being sued by a top financial regulator that says they allowed fraud to run rampant on the payments platform Zelle and failed to put safeguards in place to protect users.
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.
CFPB Sues JPMorgan, Bank of America Over Alleged Zelle Fraud (3)
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.
CFPB sues three top U.S. banks for failing to protect consumers from Zelle fraud
The consumer financial watchdog says customers of the top three banks lost more than $870 million over seven years due to a lack of safeguards against fraud on the Zelle network.
CFPB sues BofA, JPM and Wells over Zelle fraud
The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment network Zelle, alleging shoddy safeguards and millions in consumer losses.
Consumer Financial Protection Bureau sues big banks over 'widespread' fraud on Zelle app
The CFPB said the banks violated federal law through critical failures, alleging they ignored red flags that could have prevented fraud.
Wells Fargo, Chase, Bank of America sued over alleged unchecked fraud
Wells Fargo, JPMorgan Chase and Bank of America are being sued by the embattled Consumer Financial Protection Bureau over alleged unchecked fraud on the Zelle payment app — setting up
Crowdfund Insider6d
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 ...
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 ...
Winston-Salem Journal3d
Nation's three-largest banks sued by federal regulators over alleged Zelle-related fraud
The CFPB said hundreds of thousands of customers of the three banks have lost more than a combined $870 million over Zelle’s seven-year existence due to alleged operational failures. The lawsuit ...
Crowdfund Insider6d
CFPB Claims Regarding Zelle Losses May Be Exaggerated
Earlier this week, the Consumer Financial Protection Bureau (CFPB) announced a lawsuit targeting the big banks that launched Zelle. Zelle was created by big banks in recognition of the rise of ...
CFPB sues Walmart, fintech partner for illegally opening accounts
The Consumer Financial Protection Bureau sued Walmart and Branch Messenger Inc., claiming they required those in the Spark ...
Federal lawsuit claims consumers lost $870 million from scams on Zelle
The Consumer Financial Protection Bureau has filed a lawsuit against digital payment network Zelle and three of America's largest banks, alleging ...