The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.

The government accused three big banks of failing to protect consumers from fraud on the payment network Zelle.

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

Customers across the three banks have lost a combined $870 million since Zelle launched in 2017, regulators claim.

Action against Bank of America, JPMorgan Chase and Wells Fargo may not survive President-elect Donald J. Trump’s return to ...

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

Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.

The Consumer Financial Protection Bureau sued JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. along with ...

The government’s consumer watchdog alleged Zelle and three banking giants failed to protect users from fraud on the ...

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America ... from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws.

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.