CFPB drops lawsuit against JPMorgan, BofA, Wells Fargo alleging fraud on Zelle
The CFPB has now dropped seven of the enforcement cases brought under former President Joe Biden, including one against Capital One.
CFPB Drops Zelle Fraud Reimbursement Case Against JPMorgan, Wells Fargo
CFPB dropped lawsuit against JPMorgan Chase, Wells Fargo, and Bank of America for alleged failure to prevent fraud on Zelle. Trump administration ended several consumer protection cases.
Lawsuit Over Zelle Scams Is Dropped by Consumer Bureau
A spokeswoman for the payment app’s parent company said the lawsuit against three large banks was “without merit, and legally and factually flawed.”
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 agency enforcement actions.
Under Fire From Trump Administration, CFPB Drops Its Lawsuit Against Zelle
The agency had dismissed the case 'with prejudice,' which means victims of fraud won't be able to claim relief. It comes as Trump and DOGE move to dismantle the CFPB.
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.
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.
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.
Inequality.org4h
At Wells Fargo, I Saw Firsthand How Excessive CEO Pay Harms Workers and Customers
As these fake accounts grew, the CEO of Wells Fargo at the time, John Stumpf, raked in bigger and bigger bonuses. After the ...
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Wells Fargo Allegedly Does Nothing As Fraudsters Drain $40,000 From Bank Account, Ignoring Urgent Warnings of Fraudulent Activity: Report
A Texas couple says Wells Fargo is refusing to reimburse after $40,000 was stolen from their business account despite urgent ...
WRIC Richmond on MSN1d
Henrico man sentenced to nearly 4 years for fraudulent check scheme
A 31-year-old Henrico man was sentenced to three years and 10 months in prison for conspiracy to commit bank fraud.
Two more Wells Fargo federal consent orders terminated. But growth cap remains for now
In 2011, the bank was ordered to pay an $85M civil penalty, the largest the Fed had assessed in a consumer-protection enforcement action.
As Internal Fraud Grows, Banks Need More, Not Less, Regulation
Banks are not fans of heavy regulation. Few companies or individuals are. Paying attention to rules takes time, effort, and ...
Banking Dive16d
Wells Fargo clears 10th consent order; 4 remain
The 2018 consent order issued by the OCC identified deficiencies in the bank’s enterprise-wide compliance risk management ...
Click2Houston16d
Recognize them? 2 men accused of fraudulently withdrawing $4,400 from Cypress woman’s bank account
The Harris County Pct. 4 Constable’s Office is sharing photos of two suspects in a fraud case in hopes someone knows who they ...
Former Clovis CPA pleads guilty to stealing $800,000 from a Wells Fargo Bank
A former Certified Public Accountant from Clovis pleaded guilty to bank larceny after stealing more than $800,000 from a ...