CFPB drops lawsuit against Bank of America, JPMorgan Chase and Wells Fargo over Zelle fraud
The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and three U.S. banks as federal agencies continue to pull back on previous enforcement actions now that President Donald Trump is back in office.
The Zelle scandal: why Bank of America, JPMorgan and Wells Fargo were sued
The Consumer Financial Protection Bureau (CFPB) hit three of the United States’ biggest banks with a lawsuit, which has now been dropped.
US CFPB drops Zelle case against JPMorgan, BofA, Wells Fargo
The U.S. Consumer Financial Protection Bureau told a federal court on Tuesday it was dropping a lawsuit filed in December against three of the nation's largest banks over their handling of the payment service Zelle,
CFPB lets banks off the hook and drops Zelle lawsuit
The CFPB, which enforces regulations against the financial services industry, had claimed in its December 2024 lawsuit that the organizations had not effectively protected Zelle users “from widespread fraud,” causing customers of Bank of America, JPMorgan Chase, and Wells Fargo to lose a combined $870 million since Zelle launched in 2017.
Goodbye to transfers as you knew them: Zelle changes at Bank of America and Wells Fargo
Zelle is one of simplest ways to transfer money quickly, although limits have been established depending on the bank you use it with.
CFPB drops lawsuit against banks behind payment system Zelle
The CFPB, under acting director Russell Vought, dropped a lawsuit today against three of the largest banks in the U.S. The banks are co-owners of the peer-to-peer payment system Zelle and had been accused of failing to “take meaningful action” against fraud that cost customers $870 million.
In reversal under Trump, Feds drop Zelle fraud suit against Bank of America, Wells Fargo
Zelle is co-owned by the banks listed in the lawsuit and several other large financial institutions such as Capitol One, U.S. Bank and Charlotte-based Truist. Last year, the consu
Feds drop lawsuit targeting big banks over Zelle fraud
The Consumer Financial Protection Bureau has dismissed its lawsuit against Zelle's operator and its owner banks.
Independent Journal Review2d
STEPHEN MOORE: For Whom The Zelle Tolls: Why Dumping Biden Era Case Against Popular Service Was Correct
One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle – ...
Lawsuit Over Zelle Scams Is Dropped by Consumer Bureau
A spokeswoman for the payment app’s parent company said the lawsuit against three large banks was “without merit, and legally ...
CFPB drops Zelle lawsuit in latest reversal under Trump administration
The Consumer Financial Protection Bureau has dropped its lawsuit over peer-to-peer payment system Zelle, the latest in a ...
The New York Sun5d
For Whom the Zelle Tolls: Trump Drops Lawsuit Against the Wildly Popular Money Transfer Network
One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle, the popular ...
The Daily Hodl9d
Zelle Prepares To Terminate Transactions on Mobile App, Pushing Popular Service Exclusively To Major US Banks and Financial Institutions
The popular payments platform Zelle is preparing to implement a major change to its mobile app services. The platform says it ...
Moore: Zelle suit a cautionary tale of overreach
The very people the CFPB is supposed to protect would be the victims here. If the service is harmful to customers, then why ...
CNET2d
Steer Clear of These Common Venmo, Cash App and Zelle Scams
Digital payment apps like Zelle, Venmo, Cash App and PayPal make sending money to others a breeze. Scammers know this, which ...