Customers across the three banks have lost a combined $870 million since Zelle launched in 2017, regulators claim.

The lawsuit cites Zelle’s designs and features, including a “limited” identity verification process that involves assigning a ...

The Consumer Financial Protection Bureau said more than $870 million in Zelle-related fraud losses hit consumers at three big ...

Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect ...

Zelle is used by many people to quickly and conveniently send money electronically from their credit card or bank account.

JP Morgan Chase also denied the allegations and alluded ... In response, Early Warning claimed it has “highly effective multi-layered fraud and scam prevention measures” that in 2023 resulted ...

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

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at ...

The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment ...

The Consumer Financial Protection Bureau (CFPB) alleged Friday that Bank of America, JPMorgan Chase and Wells Fargo were slow ...

Trish Wexler, a JPMorgan Chase spokesperson ... "Zelle leads the fight against scams and fraud and has industry-leading reimbursement policies that go above and beyond the law," according to ...