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 ...

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 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 ...

From the start, according to the legal complaint, Zelle's marketing and branding "exploited consumers' perceptions of reliability and security." The CFPB said Friday that the defendant banks ...

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 ...

The Scottsdale-based operator of Zelle and three of the banks that co-own it are being sued by the federal government, alleging a failure to protect consumers from fraud. The Consumer Financial ...

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 ...

In a nutshell: Venmo rival Zelle has become popular with fraudsters. To make matters worse, the company and participating banks allegedly do little to protect users. A consumer protection group ...

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 ...

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 ...

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 ...

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 ...