The Zelle payment app opened the door for crooks and con artists to steal hundreds of millions of dollars from consumers over several years, and some big banks are to blame for a chaotic rush to ...

The government’s consumer watchdog alleged Zelle and three banking giants failed to protect users from fraud on the peer-to-peer payment network. The Consumer Financial Protection Bureau (CFPB ...

Zelle, the payments app you likely use primarily to send rent to your landlord, is at the center of a lawsuit announced Friday by the Consumer Financial Protection Bureau (CFPB). The CFPB is suing ...

CFPB sues JPMorgan, Bank of America, and Wells Fargo over Zelle Banks failed to protect consumers, CFPB alleges Lawsuit driven by political factors, says Zelle's parent The U.S. Consumer Financial ...

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 ...

Three Major banks and Zelle rushed to bring a peer-to-peer payment network to market without first ensuring users would be protected against "widespread" fraud, alleges a lawsuit filed on Friday ...

SO TODAY, THE NATION’S TOP CONSUMER WATCHDOG SUED THE PAYMENT APP ZELLE AND THREE OF THE NATION’S LARGEST BANKS FOR FAILING TO PROTECT CUSTOMERS FROM FRAUD. THIS IS SOMETHING I’VE TOLD YOU ...

The Consumer Financial Protection Bureau sued the operator of Zelle, as well as Bank of America, JPMorgan Chase and Wells Fargo "for failing to protect consumers from widespread fraud" at the ...

Financial regulators on Friday filed a lawsuit against JPMorgan Chase, Bank of America, Wells Fargo and Zelle’s parent firm, accusing the companies of failing to protect consumers from ...

“Shortly after Zelle’s launch, significant problems, including fraud being perpetrated on consumers using Zelle, quickly became apparent. But defendants did not take meaningful action to ...

The lawsuit alleges the banks rushed to complete the Zelle payment network in order to compete with Venmo and CashApp. The lawsuit further alleges that the banks “systemically failed” their ...