The Consumer Financial Protection Bureau (CFPB) of the United States has sued this Friday JPMorgan Chase, Bank of America and Wells Fargo along with the electronic transaction company Zelle for starting a payment network between individuals without first having adequate measures in place. to protect its users.
The CFPB has accused Zelle and the three entities of having limited methods for verifying identities, allow scammers to access the systemignoring warnings that could have detected fraud, and abandoning customers after being deceived. The CFPB has also stated that Complaints filed by consumers were not attended to.
“By failing to establish adequate safeguards, Zelle became a gold mine for fraudsterss, often leaving the victims to their fate,” said the director of the CFPB, Rohit Chopra, in statements reported by ‘Bloomberg’.
For his part, Zelle has described the supervisor’s actions as “legally and factually erroneous” given that it would be driven, supposedly, by “political reasons.”
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