Discussion

• @lesliepicker Leslie Picker on bluesky

  Original suit from the CFPB claimed that bank customers have lost over $870 million throughout the network's seven years of operation due to lack of consumer safeguards.  —  www.cnbc.com/2025/03/04/c...

• @econliberties @econliberties on x

  Another day, another slate of corporate pardons. The administration's decision to drop the Zelle case and a myriad of others is a gift to some of the worst corporate wrongdoers in the financial industry and a gut punch to the millions of Americans they harmed.

• @rickclaypool Rick Claypool on x

  Zelle Network banks Bank of America, JPMorgan, and Wells Fargo were already benefiting from the pause in CFPB enforcement, as documented in @Public_Citizen corporate enforcement tracker. Again and again, these pauses are precursors to Trump agencies dropping cases altogether. [im…

• @accountable_us @accountable_us on x

  Got scammed on Zelle? Don't expect help. The Trump administration just dropped a lawsuit against the banks behind #Zelle—despite $870M lost to fraud. Instead of protecting you, they're giving Wall Street a free pass. https://accountable.us/...

• @jaredlholt Jared Holt on x

  Anyone who still thinks this government is working for “the little guy” might as well just give their retirement money to crypto scammers now

• @westonloyd Weston Loyd on x

  .@LindseyJCBA issued the following statement in response to the CFPB dropping its Biden-era lawsuit against Zelle ⤵️ [Image: “(...) In a time when fraud and scam activity is surging across industries and government alike, we look forward to moving past finger pointing and politic…

• @jordanchariton @jordanchariton on x

  On reflection, the Trump administration is making Tammany Hall seem like a political machine of integrity

• @silvermanjacob Jacob Silverman on x

  They are robbing you. They are glad to pick your pocket. https://www.cnbc.com/...

• @lesliepicker Leslie Picker on x

  Original suit from the CFPB claimed that bank customers have lost over $870 million throughout the network's seven years of operation due to lack of consumer safeguards. https://www.cnbc.com/...

• @wsjopinion @wsjopinion on x

  If progressives really cared about protecting business trade secrets and customer information, they'd oppose the CFPB's investigative dragnets. Their real concern is keeping the CFPB up and running as a political weapon they can use against business. https://www.wsj.com/...

• @unusual_whales @unusual_whales on x

  This is unusual. The Consumer Financial Protection Bureau has dropped its lawsuit filed in December against JPMorgan, $JJPM, Wells Fargo, $WFC, and Bank of America, $BAC, over their handling of the payment service Zelle. They were alleged to have failed to protect consumers

• @consumerchoicec @consumerchoicec on x

  Today CFPB did the right thing and dropped its case against Zelle. We know there are mass scams and fraud online. But placing liability on payment rails, rather than punishing the bad actors, only harms consumers who rely on these services. A victory for consumer choice! [image]

• @marksvensson Mark Svensson on x

  The CFPB was designed to protect consumers from financial abuse. Recently, the CFPB dropped its lawsuits against: - Capital One, for cheating depositors out of $2B+ in interest - Rocket Homes, for providing kickbacks to agents and brokers - Zelle, for reported widespread fraud, […

• @jhweissmann Jordan Weissmann on x

  CFPB drops its lawsuit against the companies that run Zelle. With prejudice, so they can't bring it again. https://www.courtlistener.com/ ...

• @allisonmpreiss Allison M. Preiss on x

  Last week, the Trump CFPB let Capital One off the hook for allegedly cheating Americans out of $2B in interest. Today, Zelle owners Wells Fargo, B of A, & JPMC got a dismissal in their case involving nearly $1B of alleged consumer fraud. Corporate pardon season in full swing.

• r/technology r on reddit

  CFPB drops lawsuit against JPMorgan Chase, Bank of America and Wells Fargo over Zelle fraud

• r/law r on reddit

  CFPB drops JPMorgan, Bank of America, Wells Fargo lawsuit over Zelle fraud

• r/JoeRogan r on reddit

  Consumers have lost 870 million since Zelle was launched in 2017.  The fraud case has now been dismissed with prejudice. …

• r/economicCollapse r on reddit

  Consumers have lost 870 million since Zelle was launched in 2017.  The fraud case has now been dismissed with prejudice.