CFPB, Zelle and Bank of America

CFPB drops Zelle lawsuit in latest reversal under Trump administration
The Consumer Financial Protection Bureau has dropped its lawsuit over peer-to-peer payment system Zelle, the latest in a series of dismissals from this department under President Donald Trump's administration.
CFPB drops lawsuit against Bank of America, JPMorgan Chase and Wells Fargo over Zelle fraud
The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and three U.S. banks as federal agencies continue to pull back on previous enforcement actions now that President Donald Trump is back in office.
CFPB lets banks off the hook and drops Zelle lawsuit
The CFPB, which enforces regulations against the financial services industry, had claimed in its December 2024 lawsuit that the organizations had not effectively protected Zelle users “from widespread fraud,” causing customers of Bank of America, JPMorgan Chase, and Wells Fargo to lose a combined $870 million since Zelle launched in 2017.
Consumer agency drops Zelle lawsuit against big banks in latest legal pullback
The CFPB has dropped a lawsuit accusing Zelle and its bank backers of failing to clamp down on fraud. It's Trump administration's latest move to drop enforcement actions.
CFPB drops lawsuit against banks behind payment system Zelle
The CFPB, under acting director Russell Vought, dropped a lawsuit today against three of the largest banks in the U.S. The banks are co-owners of the peer-to-peer payment system Zelle and had been accused of failing to “take meaningful action” against fraud that cost customers $870 million.
CFPB Drops Zelle Fraud Lawsuit Against Major US Banking Institutions
In a shift in regulatory approach, the Consumer Financial Protection Bureau (CFPB) has dropped its lawsuit against three of the largest U.S. banks.
Vought-led CFPB drops Zelle fraud lawsuit against banking giants
The case was dismissed "with prejudice," meaning it cannot be brought again, the Consumer Financial Protection Bureau said in a filing.
CFPB drops fraud suit against Zelle’s operator, big banks
The 2024 lawsuit alleging rampant fraud on the peer-to-peer payments service is the latest action the CFPB has dismissed under the Trump administration.
Feds drop lawsuit targeting big banks over Zelle fraud
The Consumer Financial Protection Bureau has dismissed its lawsuit against Zelle's operator and its owner banks.
Zelle fraud lawsuit dropped
The dismissal comes less than a week after the CFPB dropped several enforcement actions against companies like Capital One and Rocket Homes.
Independent Journal Review2d
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US CFPB drops Zelle case against JPMorgan, BofA, Wells Fargo
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The agency protects consumers from being cheated by financial entities. Ever since the Consumer Financial Protection Bureau ...
Senate Votes to Strip CFPB of Ability to Regulate Platforms Like X
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InvestmentNews4d
Wall Street banks avoid court battle as toothless CFPB withdraws lawsuit
CFPB’s court filing in December 2024 alleged that the banks had rushed to capture market share which was “prioritized at the ...