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

The Consumer Financial Protection Bureau said Friday it filed a complaint against three of the country’s largest banks and ...

Wells Fargo, Chase and Bank of America were sued by the Consumer Financial Protection Bureau over alleged widespread fraud on ...

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 Consumer Financial Protection Bureau says the banks failed to protect hundreds of thousands of consumers from rampant ...

In addition to exposing customers to fraud, the banks violated federal laws for electronic fund transfers, according to the ...

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

Early Warning Services, which designed and operates Zelle, is co-owned by seven big banks – Bank of America, Capital One, Chase, PNC Bank, Trust, U.S. Bank and Wells Fargo. Early Warning ...

EWS is owned by seven U.S. banks, including JPMorgan, Wells Fargo and Bank of America. Those three banks are the largest financial institutions on the Zelle network, accounting for 73% of activity ...

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

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.