CFPB Drops Lawsuit Against Bank of America, JPMorgan Chase and Wells Fargo Over Zelle Fraud
The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and three U.S. banks as federal agencies continue to pull back on previous enf
CFPB drops lawsuit against JPMorgan, BofA, Wells Fargo alleging fraud on Zelle
The CFPB has now dropped seven of the enforcement cases brought under former President Joe Biden, including one against Capital One.
Consumer agency drops Zelle lawsuit against big banks in latest legal pullback
The CFPB has dropped a lawsuit accusing Zelle and its bank backers of failing to clamp down on fraud. It's Trump administration's latest move to drop enforcement actions.
Federal consumer bureau drops lawsuit over Zelle schemes
In December, the federal Consumer Financial Protection Bureau, under the Biden administration, filed a lawsuit against Zelle, JP Morgan Chase, Bank of America, and Wells Fargo, claiming consumers lost more than $870 million because fraud claims weren’t properly investigated.
The CFPB Drops Its Zelle Lawsuit As the Senate Looks to Curb the Bureau’s Power
The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the Zelle person-to-person payments network. The suit had also named Bank of America, JPMorgan Chase, and Wells Fargo as defendants. The financial institutions are three of the seven bank owners of Early Warning.
Lawsuit Over Zelle Scams Is Dropped by Consumer Bureau
A spokeswoman for the payment app’s parent company said the lawsuit against three large banks was “without merit, and legally and factually flawed.”
Trump's CFPB drops lawsuit against JPMorgan Chase, Bank of America and Wells Fargo over Zelle fraud
The lawsuit, filed in December, accused Zelle’s parent company, Early Warning Services, along with JPMorgan Chase, Bank of America, and Wells Fargo of improperly handling fraud
In reversal under Trump, Feds drop Zelle fraud suit against Bank of America, Wells Fargo
Zelle is co-owned by the banks listed in the lawsuit and several other large financial institutions such as Capitol One, U.S. Bank and Charlotte-based Truist. Last year, the consu
Feds drop lawsuit targeting big banks over Zelle fraud
The Consumer Financial Protection Bureau has dismissed its lawsuit against Zelle's operator and its owner banks.
Ohio's Richard Cordray, ex-CFPB director, lambasts Trump for wiping out 'police' of banks
Richard Cordray, first director of the Consumer Financial Protection Bureau, warns that President Trump is trying to wipe out ...
The CFPB lets JPMorgan Chase and other banks off the hook in dropping a Zelle fraud lawsuit
The Consumer Financial Protection Bureau (CFPB) dropped its suit against JPMorgan Chase (JPM), Bank of America (BAC), and ...
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BBB: The Consumer Financial Protection Bureau is shut down. What does this mean for consumers?
The Consumer Financial Protection Bureau is in control of creating rules and taking enforcement actions to protect consumers ...
JD Supra4d
Significant Changes at the CFPB under the Second Trump Administration
The Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) has recently made headlines in the past month under the ...
USA Today10d
Consumer Protection Bureau drops lawsuits against financial giants
The U.S. Consumer Financial Protection Bureau on Thursday dropped a series of enforcement actions against financial services companies accused of wrongdoing under the prior administration, ...