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CFPB, Zelle

Hosted on MSN · 17h

CFPB sues America's largest banks for 'allowing fraud to fester' on Zelle

The Consumer Financial Protection Bureau is suing America's three largest banks, accusing the institutions of failing to protect customers from fraud on Zelle, the payment platform they co-own.

CFPB Takes on BoA, Wells Fargo and JPMorgan Chase Over Zelle Fraud

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at the banks lost more than $870 million to fraud since Zelle's inception.

In a lawsuit, CFPB says 3 top U.S. banks failed to protect consumers from Zelle fraud

The consumer financial watchdog says customers of the top three banks lost more than $870 million over seven years due to a lack of safeguards against fraud on the Zelle network.

Digital Transactions22h

The CFPB Sues Early Warning, BofA, Chase, And Wells Over Zelle Fraud

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

CNET on MSN17h

Zelle Accused by CFPB of Leaving Customers Vulnerable to Widespread Fraud

CFPB alleges JPMorgan Chase and other big banks skipped important safety features that put Zelle customers at risk.

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