The lawsuit, filed in December, accused Zelle’s parent company, Early Warning Services, along with JPMorgan Chase, Bank of ...

The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and ...

It had accused Zelle's operator and owner banks of failing to adequately investigate fraud and refusing to reimburse victims.

The Consumer Financial Protection Bureau (CFPB) dropped its suit against JPMorgan Chase (JPM), Bank of America (BAC), and ...

The CFPB has now dropped seven of the enforcement cases brought under former President Joe Biden, including one against ...

In a shift in regulatory approach, the Consumer Financial Protection Bureau (CFPB) has dropped its lawsuit against three of the largest U.S. banks.

The lawsuit claims there was “significant fraud” across the Zelle network, and that the company has “failed to take sufficient fraud-prevention actions.” The CFPB claimed that failure to ...

The banks’ customers lost $870 million to fraud on Zelle’s platform over seven years, according to the lawsuit. The CFPB’s broad effort to abandon the prior administration’s litigation on ...

Representatives for the CFPB, JPMorgan, Wells Fargo ... Bank of America and Wells Fargo of failing to protect consumers from fraud on Zelle costing hundreds of millions of dollars.

Early Warning Services, the owner of Zelle, JPMorgan Chase, Bank of America, and Wells Fargo were sued by former President Joe Biden’s CFPB for allegedly failing to properly investigate fraud ...

But Zelle scams often trick victims into transferring ... the steps that banks must take to shield their customers from fraud on payments apps. But Mr. Chopra was fired last month by President ...

A key problem in determining fraud and scams on Zelle was the lack of publicly available data. Further, the CFPB appeared in its lawsuit to expand the definition of Regulation E to require that banks ...