One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle, the popular money transfer network. The Consumer Finance Protection Bureau argued ...

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 ...

Anna Moneymaker / Getty Images The Consumer Financial Protection Bureau on Tuesday dropped its lawsuit against several big banks for failing to safeguard the Zelle payments network from fraud.

But Zelle scams often trick victims into transferring cash themselves. Banks have said they have no responsibility for reimbursing customers for transactions they made themselves, even if they ...

Peer-to-peer payment apps like Zelle, Venmo, and Apple Pay Cash really took off during the pandemic, and are now a well-established way for people to make instant cash transfers between friends.

Options to use the Zelle payments network are seen on a mobile banking app in New York on Friday, Dec. 20, 2024. Credit: AP/Patrick Sison By The Associated Press Updated March 5, 2025 9:09 am ...

The Consumer Financial Protection Bureau has dropped its lawsuit against the operator of peer-to-peer payment network Zelle and three big banks that use it. Lindsey Johnson, president of the ...

March 4 (Reuters) - The U.S. Consumer Financial Protection Bureau told a federal court on Tuesday it was dropping a lawsuit filed in December against three of the nation's largest banks over their ...

The CFPB has dismissed its lawsuit against Early Warning Services, which runs Zelle, as well as JPMorgan (JPM), Bank of America (BAC), and Wells Fargo (WFC), CNBC’s Hugh Son reports. The bureau ...

“The nation’s largest banks felt threatened by competing payment apps, so they rushed to launch Zelle. By not implementing proper safeguards, Zelle became a goldmine for scammers, often ...

Representatives for the CFPB, Wells Fargo, and Early Warning Services, the joint venture of seven different banks which operates the Zelle system, did not immediately respond to requests for ...

Representatives for the CFPB, Wells Fargo, and Early Warning Services, the joint venture of seven different banks which operates the Zelle system, did not immediately respond to requests for ...