32 votes

Three of the biggest US banks are facing a lawsuit for ‘widespread fraud’ on Zelle

Posted by boxer_dogs_dance
Tags: banking, usa, banks, crime, fraud, legal, lawsuits, fintech, payment processors, payments.mobile, zelle, author.emma roth, source.the verge, short read, paywall
https://www.theverge.com/2024/12/20/24325923/cfpb-zelle-lawsuit-widespread-fraud

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Authors
Emma Roth
Published
Dec 20 2024
Word count
396 words

1 comment

  1. TheD00d
    Link
    I mean I completely agree and not surprised it hasn't happened sooner. I didn't even have the option to opt-out of Zelle when my bank first brought it online. The amount of scam requests I have...

    I mean I completely agree and not surprised it hasn't happened sooner. I didn't even have the option to opt-out of Zelle when my bank first brought it online. The amount of scam requests I have gotten has been insane.

    It's a good idea in theory but it's initial execution really left the guardrails off.

    8 votes