The CFPB Drops Its Zelle Lawsuit As the Senate Looks to Curb the Bureau’s Power
The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the Zelle person-to-person payments network. The suit had also named Bank of America, JPMorgan Chase, and Wells Fargo as defendants. The financial institutions are three of the seven bank owners of Early Warning.
It had accused Zelle's operator and owner banks of failing to adequately investigate fraud and refusing to reimburse victims.
CFPB’s court filing in December 2024 alleged that the banks had rushed to capture market share which was “prioritized at the ...
1dOpinion
One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle, the popular ...
If the government wins this fight with Zelle, the users will pay more. That hardly sounds like a way to "protect" consumers.
Zelle, the money transfer app co-owned by seven of the country's largest banks, is implementing some changes after costing ...
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