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CFPB sues top US banks, says they allowed fraud on payment platform Zelle
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CFPB sues top US banks, says they allowed fraud on payment platform Zelle
Dec 20, 2024 7:08 AM

Dec 20 (Reuters) - The U.S. Consumer Financial

Protection Bureau said on Friday it had filed a lawsuit against

JPMorgan Chase ( JPM ) , Bank of America ( BAC ), and Wells

Fargo ( WFC ), accusing the banks of allowing "fraud to fester"

on peer-to-peer payments platform Zelle.

The CFPB in a statement said it was seeking to stop the

alleged unlawful practices, secure redress and penalties, and

obtain other relief.

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