CFPB, Zelle and Bank of America

CFPB Sues Major Banks Over Zelle Fraud Response
Zelle is used by many people to quickly and conveniently send money electronically from their credit card or bank account.
Zelle payment fraud gets major banks sued by the CFPB
The CFPB is suing the fintech firm Early Warning Services — the bank-owned company that runs Zelle — as well as JPMorgan Chase, Bank of America, and Wells Fargo, claiming that customers of the banks lost more than $870 million over Zelle's seven-year existence.
CFPB sues Zelle operator, major banks over failure to counter fraud
Three of the largest U.S. banks rushed the Zelle digital payment system to market "without implementing effective consumer safeguards," according to a lawsuit filed Friday by a federal government agency.
CFPB sues big banks behind money transfer app Zelle over lax oversight, fraud
JPMorgan Chase, Wells Fargo Bank, Bank of America, and the company behind online money transfer app Zelle were sued by the Consumer Financial Protection Bureau for allegedly failing to safeguard Zelle's network and causing customers to lose $870 million,
CFPB Sues JPMorgan, Bank of America Over Alleged Zelle Fraud (3)
The Consumer Financial Protection Bureau sued JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. along with the parent company of Zelle alleging the firms rushed a peer-to-peer payment network to market without first implementing adequate consumer protections.
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.
CFPB sues BofA, JPM and Wells over Zelle fraud
The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment network Zelle, alleging shoddy safeguards and millions in consumer losses.
CFPB Sues Big Banks Over Fraud on Zelle
The lawsuit goes after JPMorgan Chase, Bank of America, and Wells Fargo, in addition to a financial-technology company co-owned by the lenders..
CFPB alleges 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.
Consumer Financial Protection Bureau sues big banks over 'widespread' fraud on Zelle app
The CFPB said the banks violated federal law through critical failures, alleging they ignored red flags that could have prevented fraud.
3 institutions face lawsuits over Zelle app fraud reports
Wells Fargo, JPMorgan Chase and Bank of America are being sued by the Consumer Financial Protection Bureau over claims of unchecked fraud on the Zelle payment app -- setting up a legal showdown that the incoming Trump administration could quash as soon as next month.
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 ...
Crowdfund Insider5d
CFPB Claims Regarding Zelle Losses May Be Exagerated
Earlier this week, the Consumer Financial Protection Bureau  (CFPB) announced a lawsuit targeting the big banks that launched ...
Winston-Salem Journal3d
Nation's three-largest banks sued by federal regulators over alleged Zelle-related fraud
The CFPB said hundreds of thousands of customers of the three banks have lost more than a combined $870 million over Zelle’s seven-year existence due to alleged operational failures. The lawsuit ...
CFPB sues Walmart, fintech partner for illegally opening accounts
The Consumer Financial Protection Bureau sued Walmart and Branch Messenger Inc., claiming they required those in the Spark ...
CNET on MSN6d
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.