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Customers of several banks, including TD Bank, as well as the popular cash transferring service Zelle are unable to login to their accounts or send payments. According to Downdetector, a website that monitors online outages, the issues began around 8am ET. Other banks affected by this glitch include, but are not limited to, Ally Bank, …
JPMorgan disclosed that the Consumer Financial Protection Bureau could punish the lender for its role in Zelle, the giant peer-to-peer digital payments network. In response, JPMorgan issued a thinly veiled threat: “The firm is evaluating next steps, including litigation.” The prospect of a bank suing its regulator would’ve been unheard of in an earlier era, …
JPMorgan Chase, Bank of America and Wells Fargo Under Federal Investigation Over Hundreds of Millions of Dollars in Scams and Fraud on Instant Payments Platform Zelle https://t.co/Pj4ffqcMcR — The Daily Hodl (@TheDailyHodl) August 10, 2024 The agency is responding to complaints that the banks don’t do enough to stop illicit transfers and especially scams, which …
JPMorgan Chase, Bank of America and Wells Fargo are failing to protect customers from hundreds of millions of dollars in scams and fraud per year, according to a US Senate panel. At a hearing held by the Permanent Subcommittee on Investigations, Democratic Senator and Chairman Richard Blumenthal said the banking giants’ customers submitted claims to recover $456 …