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03/05/2025
CFPB Dismisses Lawsuit Against Zelle, U.S. Banks
Banking Exchange
The CFPB dropped charges against Zelle, JP Morgan Chase, Wells Fargo and Bank of America (the three largest United States-based banks that make up the most transactions).
The original suit was based on the premise that the firms did not investigate fraud or provide proper compensation for consumers who were victims of fraud.
The CFPB has dropped several cases since the new administration has taken over and Russel Vought has been in charge.
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