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Over 500,000 Zelle fraud claims in past few years at four major banks, report finds Here’s a breakdown of why the payment service has come under fire — and what you can watch for on Zelle to ...
The CFPB put Zelle-related fraud losses at more than $870 million involving customers at just the three banks alone over seven years since the launch of the app in 2017. Zelle disputes how the ...
The chief executive of Early Warning Services, which runs Zelle, told a Senate subcommittee in July that only 0.1% of the transactions on Zelle involved a scam or fraud; in 2023, the company said ...
Zelle leads the fight against scams and fraud and has industry-leading reimbursement policies that go above and beyond the law. “The CFPB’s misguided attacks will embolden criminals, cost ...
Zelle's chief fraud risk manager, Ben Chance, meanwhile, told Fortune that the app is doing everything it can to minimize the risk of scams. He also told the outlet that the best way to prevent ...
A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular ...