Consumer agency drops Zelle lawsuit against big banks

CFPB drops Zelle lawsuit in latest reversal under Trump administration
The Consumer Financial Protection Bureau has dropped its lawsuit over peer-to-peer payment system Zelle, the latest in a series of dismissals from this department under President Donald Trump's administration.
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.
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.”
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 enforcement actions now that President Donald Trump is back in office.
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
Wells Fargo, Chase and Bank of America were sued by the Consumer Financial Protection Bureau over alleged widespread fraud on the Zelle app, used by millions. Dec. 23, 2024 “We welcome the CFPB ...
CFPB lets banks off the hook and drops Zelle lawsuit
The CFPB, which enforces regulations against the financial services industry, had claimed in its December 2024 lawsuit that the organizations had not effectively protected Zelle users “from widespread fraud,” causing customers of Bank of America, JPMorgan Chase, and Wells Fargo to lose a combined $870 million since Zelle launched in 2017.
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.
Zelle fraud lawsuit dropped
The dismissal comes less than a week after the CFPB dropped several enforcement actions against companies like Capital One and Rocket Homes.
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