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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.
Lawsuit targeting Bank of America, Wells Fargo and others over Zelle fraud dropped by CFPB
It had accused Zelle's operator and owner banks of failing to adequately investigate fraud and refusing to reimburse victims.