U.S. Regulators Sue JPMorgan Chase, Bank Of America And Wells Fargo Over Alleged Fraud On Zelle [Forbes]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: Forbes
the companies of failing to protect consumers from “widespread fraud” on the payments platform. Customers across the three banks have lost a combined $870 million since Zelle launched in 2017, ... [+] regulators claim. NurPhoto via Getty Images Key Facts The Consumer Financial Protection Bureau (CFPB) accused JPMorgan Chase, Bank of America, Wells Fargo and Early Warning Services—Zelle's operating firm—of failing to properly investigate claims of fraud or reimburse victims or other errors with the payment platform, according to a statement from the agency. Hundreds of thousands of consumers filed complaints of fraud and were denied assistance by the three banks, which advised the consumers to then contact those responsible for the alleged fraud for relief, the agency claims. The CFPB alleges the three banks have failed to take “timely, effective and appropriate measures” to prevent fraud, in addition to having inadequate verification requirements to reduce the chance of co
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JPM
News
- Lawsuit alleges Zelle and its owners failed to protect consumers from fraud [Yahoo! Finance]Yahoo! Finance
- CFPB sues America's largest banks for 'allowing fraud to fester' on Zelle [Yahoo! Finance]Yahoo! Finance
- Powerless Against Financial Scams, The CFPB Scapegoats The Big Banks [Forbes]Forbes
- CFPB sues JPMorgan, Bank of America over alleged Zelle fraud [Fortune]Fortune
- CFPB Sues JPMorgan, Bank of America Over Alleged Zelle Fraud [Yahoo! Finance Canada]Yahoo! Finance Canada
JPM
Earnings
- 10/14/24 - Beat
JPM
Sec Filings
- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- JPM's page on the SEC website