Archive Photo: Russell Vought, acting director of the Office of Management and Budget (OMB), testified before the House Budget Committee on March 12, 2019 at the 2020 Budget Committee in Capitol Hill, Washington, USA.
Yuri Gripas | Reuters
this Consumer Financial Protection Bureau Dismissed on Tuesday litigation Oppose the operator cell Payment networks and the three major banks dominate.
this CFPB prosecution warning service, Run a peer-to-peer payment network and JPMorgan Chase, Bank of America and Wells Fargo In December, the company was accused of failing to properly investigate fraud complaints or reimburse victims.
“The CFPB’s early warning services to defendants, Bank of America, NA, JPMorgan Chase (NA) and Wells Fargo Bank, included in NA, dismissed the lawsuit,” the regulator said in its filing.
The agency has at least declined since acting director Russell Vought took over the CFPB Half frame The case filed by his predecessor, Rohit Chopra. The agency is now involved Legal struggle After the union of CFPB employees who have ceased on behalf of CFPB employees Massive shooting and clear the data that would have happened, and Elon MuskMinistry of Government Efficiency.
CFPB explain Since Zelle launched in 2017, the three banks’ clients have lost more than $870 million. The service is designed to provide a peer-to-peer alternative to bank customers PayPal. last year Zelle’s total volume exceeds $1 trillionIt says it’s the most peer-to-peer platform ever.
Since the recent case was dismissed, the CFPB has agreed not to make these requests again, closing the possibility of withdrawing funds for consumer relief.
This story is developing. Please check it for updates.
