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 ...
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.
Three of the biggest US banks are facing a lawsuit for ‘widespread fraud’ on Zelle
The lawsuit cites Zelle’s designs and features, including a “limited” identity verification process that involves assigning a ...
Feds Sue Banks for 'Widespread Fraud' on Zelle and Limited Victim Compensation
Zelle and three of the banks behind one of the nation’s biggest payment networks failed to protect users from “widespread ...
JPMorgan Chase, Bank of America, and Wells Fargo sued over Zelle scams that cost $870 million
The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.
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Feds accuse major banks of allowing Zelle fraud
The Consumer Financial Protection Bureau claims that JPMorgan Chase, Wells Fargo and Bank of America have failed to protect consumers from fraud on the popular peer-to-peer payment platform Zelle.