CFPB, Zelle and Bank of America

CFPB drops Zelle lawsuit in latest reversal under Trump administration
The Consumer Financial Protection Bureau has dropped its lawsuit over peer-to-peer payment system Zelle, the latest in a series of dismissals from this department under President Donald Trump's administration.
CFPB drops lawsuit against Bank of America, JPMorgan Chase and Wells Fargo over Zelle fraud
The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and three U.S. banks as federal agencies continue to pull back on previous enforcement actions now that President Donald Trump is back in office.
CFPB lets banks off the hook and drops Zelle lawsuit
The CFPB, which enforces regulations against the financial services industry, had claimed in its December 2024 lawsuit that the organizations had not effectively protected Zelle users “from widespread fraud,” causing customers of Bank of America, JPMorgan Chase, and Wells Fargo to lose a combined $870 million since Zelle launched in 2017.
Vought-led CFPB drops Zelle fraud lawsuit against banking giants
The case was dismissed "with prejudice," meaning it cannot be brought again, the Consumer Financial Protection Bureau said in a filing.
CFPB drops lawsuit against banks behind payment system Zelle
The CFPB, under acting director Russell Vought, dropped a lawsuit today against three of the largest banks in the U.S. The banks are co-owners of the peer-to-peer payment system Zelle and had been accused of failing to “take meaningful action” against fraud that cost customers $870 million.
CFPB drops lawsuit against JPMorgan, BofA, Wells Fargo alleging fraud on Zelle
The CFPB has now dropped seven of the enforcement cases brought under former President Joe Biden, including one against Capital One.
Consumer agency drops Zelle lawsuit against big banks in latest legal pullback
The CFPB has dropped a lawsuit accusing Zelle and its bank backers of failing to clamp down on fraud. It's Trump administration's latest move to drop agency enforcement actions.
Feds drop lawsuit targeting big banks over Zelle fraud
The Consumer Financial Protection Bureau has dismissed its lawsuit against Zelle's operator and its owner banks.
Zelle fraud lawsuit dropped
The dismissal comes less than a week after the CFPB dropped several enforcement actions against companies like Capital One and Rocket Homes.
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Dismissal of CFPB’s Zelle case marks shift to ‘collective effort’ in consumer protection
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STEPHEN MOORE: For Whom The Zelle Tolls: Why Dumping Biden Era Case Against Popular Service Was Correct
One of the more baffling lawsuits in the final days of the Biden administration was the complaint against Zelle – ...
US CFPB drops Zelle case against JPMorgan, BofA, Wells Fargo
The U.S. Consumer Financial Protection Bureau told a federal court on Tuesday it was dropping a lawsuit filed in December ...
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The CFPB Drops Its Zelle Lawsuit As the Senate Looks to Curb the Bureau’s Power
The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the ...
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CFPB drops Zelle fraud suit against JPMorgan, BofA, Wells Fargo
The agency’s one-page filing dismissed the complaint with prejudice, meaning it cannot be revived in the future.
Moore: Zelle suit a cautionary tale of overreach
The very people the CFPB is supposed to protect would be the victims here. If the service is harmful to customers, then why ...
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The beneficiaries of a weakened CFPB are clear: big banks, payday lenders, debt collectors, and financial institutions that ...