The lawsuit cites Zelle’s designs and features, including a “limited” identity verification process that involves assigning a “token” to a user’s email address or mobile phone number ...

Sending money through Zelle only requires you to enter the recipient's phone number or email address. Zelle is an app created by the company Early Warning Services, which is owned by seven of the ...

Zelle and three of the banks behind one of the nation’s biggest payment networks failed to protect users from “widespread fraud,” federal regulators alleged in a lawsuit filed Friday.

Zelle's technology uses tokens that users can link to email addresses or mobile phone numbers. The CFPB claims that users could create multiple tokens and quickly reassign them, leaving consumers ...

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.