News

US sues JPMorgan, others over Zelle payment fraud allegations

The Consumer Financial Protection Bureau has filed a lawsuit against Early Warning Services, the operator of the Zelle payment network, along with three major U.S. banks: JPMorgan Chase, Bank of America, and Wells Fargo. The CFPB alleges that these entities failed to implement adequate safeguards against fraud on the Zelle platform, resulting in significant consumer […]