CFPB Drops ‘Zelle’ Lawsuit Against JPMorgan, Bank of America, Wells Fargo | Global News Avenue

this Consumer Financial Protection Bureau A lawsuit against several major banks Tuesday was filed for failing to protect Zelle Payments Network from fraud.

During the Biden administration’s decline date in late December, the CFPB, then led by Rohit Chopra File a lawsuit Oppose Cell Operator Early warning service and Bank of America (BAC), JPMorgan Chase (JPM) and Wells Fargo (WFC). The agency said the defendant allowed “the fraud to worsen on Zelle.”

However, the new Trump administration has Almost closed CFPB recently closed its headquarters and told employees not to work. Below Acting Director Russell WalkerCFPB deleted several cases filed by Chopra, including those against Capital One Financial (COF), Berkshire Hathaway (brk.a,,,,, bk.b) – Owned by Vanderbilt Mortgage and Finance, as well as Rockets (RKT) Unit Rocket House Real Estate.

“It dismisses lawsuits against the defendants’ early warning services, Bank of America, NA, JPMorgan Chase Bank, NA and NA, Wells Fargo Bank, and NA, and NA, and NA, in a filing filed with the U.S. District Court in Arizona on Tuesday.

Bank of America, JPMorgan Chase and Wells Fargo did not immediately respond to requests for comment.