Reported about 9 hours ago
The U.S. Consumer Financial Protection Bureau (CFPB) announced it is dropping its lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo regarding their management of the Zelle payment service. The lawsuit, which accused these banks of failing to safeguard consumers against fraud, was filed in December but has been withdrawn as the CFPB changes course under the current administration, which has halted several other enforcement actions as well. Advocacy groups are concerned about the potential weakening of the CFPB's ability to protect consumers.
Source: YAHOO