Consumer agency drops Zelle lawsuit against big banks

CFPB Drops Major Fraud Lawsuit Against Zelle and Banking Giants
The CFPB has dismissed its lawsuit against Zelle and three major U.S. banks over alleged failures to investigate fraud complaints and reimburse victims. The dismissal comes amid leadership changes and internal turmoil at the agency.
CFPB lets banks off the hook and drops Zelle lawsuit
The CFPB, which enforces regulations against the financial services industry, had claimed in its December 2024 lawsuit that the organizations had not effectively protected Zelle users “from widespread fraud,” causing customers of Bank of America, JPMorgan Chase, and Wells Fargo to lose a combined $870 million since Zelle launched in 2017.
CFPB drops lawsuit against banks behind payment system Zelle
The CFPB, under acting director Russell Vought, dropped a lawsuit today against three of the largest banks in the U.S. The banks are co-owners of the peer-to-peer payment system Zelle and had been accused of failing to “take meaningful action” against fraud that cost customers $870 million.
CFPB dismisses Zelle lawsuit against JPMorgan, BofA, Wells Fargo
The US Consumer Financial Protection Bureau (CFPB) has reportedly notified a federal court in Arizona that it is dismissing the lawsuit lodged in December against three banks over their management of the Zelle payment service.
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.
CFPB Drops Zelle Fraud Reimbursement Case Against JPMorgan, Wells Fargo
CFPB dropped lawsuit against JPMorgan Chase, Wells Fargo, and Bank of America for alleged failure to prevent fraud on Zelle. Trump administration ended several consumer protection cases.
Lawsuit targeting Bank of America, Wells Fargo and others over Zelle fraud dropped by CFPB
It had accused Zelle's operator and owner banks of failing to adequately investigate fraud and refusing to reimburse victims.
In reversal under Trump, Feds drop Zelle fraud suit against Bank of America, Wells Fargo
The Consumer Financial Protection Bureau dropped its case Tuesday against the peer-to-peer payment network along with Charlotte-based Bank of America and Wells Fargo, which has its largest employment hub in the city. JPMorgan Chase was also named in the lawsuit filed in December.
US CFPB Drops Zelle Case Against JPMorgan, BofA, Wells Fargo
The agency, which was virtually shuttered by President Donald Trump last month, had accused JPMorgan Chase, Bank of America and Wells Fargo of failing to protect consumers from fraud costing hundreds of millions of dollars.
Feds drop lawsuit targeting big banks over Zelle fraud
The Consumer Financial Protection Bureau has dismissed its lawsuit against Zelle's operator and its owner banks.
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One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle, the popular ...