CFPB Sues Major US Banks Over Alleged Zelle Fraud, Claiming Consumer Losses of $870 Million
Consumer watchdog agency CFPB has sued three major banks, alleging they failed to protect consumers from fraud tied to Zelle transactions. The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against three of the nation’s largest banks—Bank of America, JPMorgan Chase, and Wells Fargo—accusing them of failing to protect consumers from alleged widespread fraud