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JPMorgan, BofA and Wells Fargo Sued Over Alleged Zelle Fraud
By
Paige Smith
News December 20, 2024 at 04:34 PM
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What You Need To Know
- Fraud complaints weren’t addressed by the banks, with clients largely denied relief, the CFPB says.
- It also says the banks rushed the peer-to-peer payment network to market without first implementing adequate consumer protections.
- Zelle is owned by seven of the largest U.S. banks.
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