Zelle is owned by seven major banks. The CFPB has sued Early Warning Services, the company that operates Zelle, along with ...

Zelle is used by many people to quickly and conveniently send money electronically from their credit card or bank account.

The CFPB is suing the fintech firm Early Warning Services — the bank-owned company that runs Zelle — as well as JPMorgan ...

Three of the largest U.S. banks rushed the Zelle digital payment system to market "without implementing effective consumer ...

Earlier this week, the Consumer Financial Protection Bureau  (CFPB) announced a lawsuit targeting the big banks that launched ...

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

The consumer financial watchdog says customers of the top three banks lost more than $870 million over seven years due to a lack of safeguards against fraud on the Zelle network.

After Zelle added to its "S.A.F.E. Squad" campaign, the Consumer Financial Protection Bureau said Zelle customers lost $870 million due to fraud.

The CFPB announced a lawsuit against Bank of America, JPMorgan Chase, Wells Fargo and Zelle operator Early Warning Services for enabling systemic fraud. The three banks' customers have lost more than ...

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

“The nation’s largest banks felt threatened by competing payment apps, so they rushed to put out Zelle,” said CFPB Director Rohit Chopra in a statement. “By their failing to put in place ...