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 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 ...

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 ...

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 ...

“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 ...

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“The nation’s largest banks felt threatened by competing payment apps, so they rushed to put out Zelle,” said CFPB Director Rohit Chopra in a statement. “By their failing to put in place ...