From CNBC: 2025-03-04 12:35:45

The Consumer Financial Protection Bureau dismissed its lawsuit against Zelle operator and major U.S. banks for failing to address fraud complaints. The CFPB dropped at least six cases under new Acting Director Russell Vought. Customers of JPMorgan Chase, Bank of America, and Wells Fargo lost over $870 million through Zelle since 2017. Last year, Zelle exceeded $1 trillion in total volumes.

Read more: CFPB drops JPMorgan, Bank of America, Wells Fargo lawsuit over Zelle fraud