The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.

The Consumer Financial Protection Bureau asserts that the banks rushed to get the peer-to-peer payments platform to market ...

Zelle, a peer-to-peer payments network run by bank-owned fintech firm Early Warning Services, allows for instant payments to ...

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

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

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

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Zelle and three banks that own it — Wells Fargo, ...

The Consumer Financial Protection Bureau has filed a lawsuit against Zelle's operator and three major banks—Bank of America, ...

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.

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

Federal regulators said the nation's largest banks failed to put safeguards in place for consumers, creating a "gold mine for ...