Customers of Chase ... Zelle users that are customers of other banking institutions. Six U.S. banks jointly own the Zelle payment service, which allows their customers to send and receive money ...

The government accused three big banks of failing to protect consumers from fraud on the payment network Zelle.

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.

Bank of America, JPMorgan Chase and Wells Fargo ... did not immediately respond to a request for comment. Offered by more than 2,200 banks and credit unions, Zelle has more than 143 million ...

In a Friday news conference, CFPB Director Rohit Chopra alleged that Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo, as well as Zelle operator ... to move money quickly, while making ...

Wells Fargo, JP Morgan Chase and ... try getting their money back by contacting the person who had defrauded them.” The CFPB said the three banks accounted for 73% of Zelle activity last year.

says Zelle's parent The U.S. Consumer Financial Protection Bureau said on Friday it filed a lawsuit against JPMorgan Chase JPM.N, Bank of America BAC.N and Wells Fargo WFC.N for failing to protect ...

(Photo by Chip Somodevilla/Getty Images) Peer-to-peer (P2P) payment service Zelle is used by many people to quickly and conveniently send money electronically ... JP Morgan Chase and Wells Fargo ...

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

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.