The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.

Zelle, a peer-to-peer payments network run by bank-owned fintech firm Early Warning Services, allows for instant payments to ...

Customers across the three banks have lost a combined $870 million since Zelle launched in 2017, regulators claim.

Federal regulators said the nation's largest banks failed to put safeguards in place for consumers, creating a "gold mine for ...

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at ...

Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.

A federal agency is suing JPMorgan Chase Bank N.A., Wells Fargo Bank N.A. and Bank of America N.A., accusing the banks of failing to protect consumers from fraud on the widely available peer-to-peer ...

The government accused three big banks of failing to protect consumers from fraud on the payment network Zelle.

The Consumer Financial Protection Bureau has filed a lawsuit against Zelle's operator and three major banks—Bank of America, JPMorgan Chase, and Wells Fargo—accusing them of prioritizing speed ...

CFPB alleges that, as a result, hundreds of thousands of customers of JPMorgan Chase, Bank of America and Wells Fargo have lost more than $870 million since Zelle launched seven years ago.

The Consumer Financial Protection Bureau (CFPB) alleged that various factors, including Zelle's relatively 'limited ...

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect ...