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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 money transfer network. The Consumer Finance Protection Bureau argued ...

“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 ...

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 ...

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 agency had dismissed the case 'with prejudice,' which means victims of fraud won't be able to claim relief. It comes as Trump and DOGE move to dismantle the CFPB.

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.

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 ...

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 ...