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 ...

Customers across the three banks have lost a combined $870 million since Zelle launched in 2017, regulators claim.

The Consumer Financial Protection Bureau today announced it is suing three major banks and Early Warning Services, the bank-owned consortium that runs the popular payment app Zelle. The regulator ...

CFPB alleges that, as a result, hundreds of thousands of customers of JPMorgan Chase, Bank of America and Wells Fargo have lost more than $870 million since Zelle launched seven years ago.

The Consumer Financial Protection Bureau sued JPMorgan Chase, Bank of America and Wells Fargo on Friday, along with Early Warning Services, the operator of peer-to-peer payments platform Zelle ...