Wells Fargo, Chase and Bank of America were sued by the Consumer Financial Protection Bureau over alleged widespread fraud on ...

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

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

He noted that “23 million Bank of America clients have embraced Zelle, regularly using it to send money to friends, family and people they trust.” Bank of America said it works directly with ...

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

The Consumer Financial Protection Bureau said Friday it filed a complaint against three of the country’s largest banks and ...

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect ...

In addition to exposing customers to fraud, the banks violated federal laws for electronic fund transfers, according to the ...

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

EWS is owned by seven U.S. banks, including JPMorgan, Wells Fargo and Bank of America. Those three banks are the largest financial institutions on the Zelle network, accounting for 73% of activity ...

Zelle is used by many people to quickly and conveniently send money electronically from their credit card or bank account.