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 enforcement actions.

CFPB also claimed Zelle’s operator, Early Warning Services, rushed the network to the public to compete against other apps such as ... Bank of America and Wells Fargo. Preston Jenkins pjenkins@ ...

Zelle is one of simplest ways to transfer money quickly, although limits have been established depending on the bank you use it with.

Zelle has become a leading payment app in the U.S. for quick, cashless transactions among friends, family, and businesses.

“The nation’s largest banks felt threatened by competing payment apps, so they rushed to launch Zelle. By not implementing proper safeguards, Zelle became a goldmine for scammers, often ...

The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and three U.S. banks as federal agencies continue to pull back on previous ...

The app enables near-instant electronic ... Warning Services and three of its largest Zelle operators — JPMorgan, Bank of America and Wells Fargo — rushed the introduction of the network ...

Representatives for the CFPB, JPMorgan, Wells Fargo, and Early Warning ... and the three banks of rushing the Zelle service to market to compete with apps like PayPal's Venmo and Block's Cash ...