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

The Consumer Financial Protection Bureau dropped its case Tuesday against the peer-to-peer payment network along with ...

Since Acting Director Russell Vought has taken over the CFPB, the agency has dropped at least a half dozen cases brought by ...

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

The decision to drop the case comes as the CFPB, now led by White House budget director Russell Vought, has dropped multiple ...

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

The dynamic of how payments are made has evolved to be heavier on the digital side with Zelle now a huge portion of consumer transactions, but Moynihan said Bank of America still sees customers using ...

Without The complaint continues: “Defendants’ failures resulted in millions of complaints about Zelle fraud at (JP Morgan Chase, Bank of America and Wells Fargo) alone, including complaints of ...

Bank of America Corp. customers using Zelle initiated a record 1.6 billion transactions totaling $470 billion in 2024. Transaction volume increased 25%, and dollar volume 26%, last year compared to ...

In 2022, customers of JPMorgan, Bank of America and Wells said that they lost a combined total of $456 million to scams and fraud on Zelle, according to Sen. Richard Blumenthal, D-Conn., who chaired ...

The 2,100 financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Chase and Bank of America, began reversing transfers as of June 30 for customers duped into ...

along with two other banks that own Zelle — Wells Fargo and Bank of America — accusing them of “failing to protect consumers from widespread fraud on America’s most widely available peer ...