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

Zelle, a peer-to-peer payments network run by bank-owned fintech firm Early Warning Services, allows for instant payments to other consumers and businesses.

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

People looking to save money for a big trip or investment may want to make plans around an ‘extra’ paycheck in their pocket.

Federal regulators said the nation's largest banks failed to put safeguards in place for consumers, creating a "gold mine for ...

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

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

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.

The Consumer Financial Protection Bureau sued JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. along with the parent company of Zelle alleging the firms rushed a peer-to-peer payment ...

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

The suit alleges that Bank of America, JPMorgan Chase, Wells Fargo, and Early Warning Services violated federal law. Namely, the suit claims there was insufficient identity verification by Zelle ...