Reported 2 months ago
JPMorgan Chase & Co. has reported that the Consumer Financial Protection Bureau (CFPB) may pursue enforcement action against the bank following an investigation into its management of Zelle payment transactions. In a quarterly filing, the bank indicated it is reviewing its options, which may include litigation, as the CFPB staff indicates they are ready to take action. This investigation is part of broader scrutiny into consumer complaints regarding the safety of peer-to-peer payment systems like Zelle.
Source: YAHOO