US Lawmakers Probe $870,000,000 in Customer Losses on Zelle, Targeting JPMorgan Chase, Bank of America and Wells Fargo’s Reimbursement Practices
2025-07-05 17:02:06
Description
Zelle and the banks that own the popular payments platform are facing new scrutiny over scams on the trillion-dollar network. In letters to Zelle’s parent company and the banks – specifically JPMorgan Chase, Bank of America, Wells Fargo, Capital One, PNC Bank, US Bank and Truist – lawmakers demand to know more information on scams stemming from social media. In a lawsuit dropped by the Trump administration, the Consumer Financial Protection Bureau (CFPB) accused Zelle of failing to implement ade...
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