US consumer watchdog sues major banks and Zelle operator alleging fraud on the payment platform.

US consumer watchdog sues major banks and Zelle operator alleging fraud on the payment platform.

On Friday, the U.S. Consumer Financial Protection Bureau announced that it had filed a lawsuit against Wells Fargo, Bank of America, and JPMorgan Chase, alleging that the banks had allowed “fraud to fester” on the peer-to-peer payments platform Zelle.

The CFPB stated that it was working to halt the alleged illegal activities, get penalties and reparations, and achieve additional relief.

Facebook20.00k
Twitter60.00k
100.00k
Instagram500.00k
600.00k
Economic Globe - Global Economic Journal
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.