05:41 AM EDT, 08/05/2024 (MT Newswires) -- JPMorgan Chase & Co ( JPM ) said Friday in an 8-K filing with the US Securities and Exchange Commission that it is considering suing the Consumer Financial Protection Bureau, or CFPB, over the agency's investigation into the Zelle payment app.

Zelle, which is owned by a group of major banks that include JPMorgan ( JPM ) and Bank of America ( BAC ) , is under scrutiny over the proliferation of fraud and scams on the platform, according to a Reuters report.

The bank said that the CFPB has inquired about transactions through the Zelle network.

"The firm is evaluating next steps, including litigation," the bank said.

The CFPB did not immediately respond to MT Newswires' request for comment.

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