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

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

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

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

The CFPB said the banks violated federal law through critical failures, alleging they ignored red flags that could have prevented fraud.

The government’s consumer watchdog alleged Zelle and three banking giants failed to protect users from fraud on the ...

The Consumer Financial Protection Bureau sues Zelle and major banks for alleged fraud, seeking redress for consumers and ...

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

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

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

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.

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