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

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

Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.

A federal regulator has sued JPMorgan Chase, Wells Fargo and Bank of America. The Consumer Financial Protection Bureau says ...

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

The government’s consumer watchdog alleged Zelle and three banking giants failed to protect users from fraud on the ...

Federal regulators said the nation's largest banks failed to put safeguards in place for consumers, creating a "gold mine for ...

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at ...

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

The CFPB said the banks violated federal law through critical failures, alleging they ignored red flags that could have prevented fraud.

The Consumer Financial Protection Bureau (CFPB) alleged that various factors, including Zelle's relatively 'limited ...

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.