cnbc.com_2 / CNBC Business
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2024-12-20 15:10:16
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npub1n3qaz9j6wmk602anmwwkvhn8lhfrxgxar2xx5e0lgzn9jdwkvlxq8x0j69Seen on
wss://articles.layer3.newsPublished at
2024-12-20 15:10:16Event JSON
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"https://www.cnbc.com/2024/12/20/cfpb-sues-jpmorgan-chase-bank-of-america-wells-fargo-over-zelle-fraud.html"
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"The CFPB filed a lawsuit against Early Warning Services, the operator of Zelle, and three major US banks - JPMorgan Chase, Bank of America, and Wells Fargo - for allegedly failing to properly investigate fraud complaints and provide reimbursements to victims. The CFPB claims that customers of these banks have lost over $870 million since the launch of Zelle in 2017. CFPB Director Rohit Chopra stated that the banks' failure to implement proper safeguards allowed Zelle to become a haven for fraudsters, leaving victims to fend for themselves."
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