Wells Fargo, JPMorgan Chase and Bank of America are being sued by the Consumer Financial Protection Bureau over claims of unchecked fraud on the Zelle payment app -- setting up a legal showdown ...

Wells Fargo, JP Morgan Chase and Bank of America are being sued by the embattled Consumer Financial Protection Bureau over alleged unchecked fraud on the Zelle payment app — setting up a legal ...

Launched in 2017, the Zelle network aimed to be the go-to alternative to money transfer giants like Venmo and Cash App. It is owned by seven major banks, including JPM, BAC and WFC. The app ...

Customers of the banks named in lawsuit lose more than $870m over the seven years since Zelle was introduced ... In November 2023, banks on the payment app began refunding victims of imposter ...

Of consumers ages 18 to 29, 85% said they've used a service such as PayPal, Venmo, Apple Cash, Google Pay, or Zelle, according to a March 2022 study by Consumer Reports. "The apps are popular ...

CFPB sues JPMorgan, Bank of America, and Wells Fargo over Zelle Banks failed to protect consumers ... In November 2023, banks on the payment app began refunding victims of imposter scams to ...

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 ...