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 ...

"Shortly after Zelle's launch, significant problems, including fraud being perpetrated on consumers using Zelle, quickly became apparent. But defendants did not take meaningful action to address ...

That is the minimum amount customers of three giant U.S. banks have lost since payments platform Zelle was launched in 2017, according to a lawsuit by the Consumer Financial Protection Bureau.

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular ...

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 ...

The Zelle logo on a smartphone arranged in Hastings-on-Hudson, New York. The Consumer Financial Protection Bureau is suing America's three largest banks, accusing the institutions of failing to ...

The federal lawsuit claims Wells Fargo, JPMorgan and Bank of America failed to protect their customers from fraud while using Zelle. Zelle is the peer-to-peer payment platform used by millions of ...

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 Consumer Financial Protection Bureau said Friday it filed a complaint against three of the country’s largest banks and the operator of Zelle, the most widely available peer-to-peer payment ...