Reported 10 days ago
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against major banks, including JPMorgan Chase, Bank of America, and Wells Fargo, alongside Zelle's operator, Early Warning Services. The lawsuit claims these institutions did not adequately protect consumers from fraud during Zelle's launch, which lacked sufficient fraud prevention measures, and that the banks failed to help customers recover stolen funds.
Source: YAHOO