Zelle, a peer-to-peer payments network run by bank-owned fintech firm Early Warning Services, allows for instant payments to ...

The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.

A federal agency is suing JPMorgan Chase Bank N.A., Wells Fargo Bank N.A. and Bank of America N.A., accusing the banks of failing to protect consumers from fraud on the widely available peer-to-peer ...

CFPB alleges that, as a result, hundreds of thousands of customers of JPMorgan Chase, Bank of America and Wells ... said CFPB Director Rohit Chopra in a statement. “By their failing to put ...

The consumer financial watchdog says customers of the top three banks lost more than $870 million over seven years due to a lack of safeguards against fraud on the Zelle network.

The government accused three big banks of failing to protect consumers from fraud on the payment network Zelle.

Zelle operator Early Warning Services rushed the platform to market to compete with the likes of Venmo and CashApp but ...

In a statement announcing the suit ... The suit alleges that Bank of America, JPMorgan Chase, Wells Fargo, and Early Warning Services violated federal law. Namely, the suit claims there was ...

Zelle said in a statement Friday ... In fact, JPMorgan said in August that it was considering litigation against the CFPB if the regulator sought to punish the bank for its role in the Zelle ...