Since its launch in 2017, Zelle has become one of the most widely used peer-to-peer payment networks in the U.S., with more than 143 million users. In the first half of 2024, Zelle users ...

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against the peer-to-peer payment network Zelle and three US banks that conduct or facilitate transactions on the platform.

Since its launch in 2017, Zelle has become one of the most widely used peer-to-peer payment networks in the U.S., with more than 143 million users. In the first half of 2024, Zelle users ...

A statement from the CFPB said Zelle and the banks failed "to protect consumers from widespread fraud on America’s most widely available peer-to-peer payment network," claiming Zelle was rushed ...

The Consumer Financial Protection Bureau sued the operator of Zelle, as well as Bank of America ... consumers from widespread fraud" at the payment provider, according to a statement on Friday.

The Zelle payment app opened the door for crooks and con artists to steal hundreds of millions of dollars from consumers over several years, and some big banks are to blame for a chaotic rush to roll ...