Federal regulators sued the operator of Zelle, the popular payment app, and three large banks, saying they failed to protect consumers from widespread fraud. NBC News’ Brian Cheung reports on the lawsuit and the response from Zelle and the banks.
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#Zelle #Fraud #Banks
So surprising that they were so “honest” 😉
More then that
Great Reporting NBC News.Banks never did anything for customers about bank fraud any not surprised
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We have a Chase account. The Albert app has been withdrawing small amounts of money on a regular basis. Chase offered to get us back OUR MONEY if we paid a $35 fee twice. We paid the $70 and Chase said they took care of it. Weeks later Albert is still withdrawing money from our account. When we go in person, chase customer representatives just avoid us. They tell us to call a number which we did multiple times.
It’s too easy to steal from a bank account and Zelle.
Folks, I’m sorry to say this, but Trump is a very pro corporate, pro deregulation, pro business type of guy and he’s not consumer protective like the Biden administration. I believe all the lawsuits against corporations, including the one against Amazon – Jeff Bezos right now that Biden administration’s FTC started against him is going to be ended once Trump comes in Trump and replaces all of your agencies with his own people, Trump and president Elon Musk Are going to hurt workers They’re going to go after Social Security, Medicare, and Medicaid as well and healthcare.
Zelle has been repeatedly shamed by all major consumer advocates across the country for many years. Never use it.
Don’t use it don’t use it don’t use it. It’s a nightmare waiting to happen. 🎉
Government will find another way to protect big banks just like back in 2008
That’s why Elon wants to get rid of CFPB. So the wealthy can get wealthier and the peasants stay where they belong. Don’t let them do it!
Each of these fraud situations are different. We, especially social media are wired to think with a broad brush. Sad to say, in probably most of these situations, consumers are just stupid, and easy victims for bad actors. I wouldn’t say that in all of these cases that come up, banks should be responsible. Banks can’t fix stupid. They’ve done quite a bit to educate the public on how to avoid fraud. On the other hand, there are cases too, where the banks are responsible, in which case, they should reimburse funds immediately after review.
Spawny….steaks and beer? Let’s talk!! Because I agree 100%. What’s your take on the possibility that this is about to open the door for Banks to access more customer data like personal info, device info, and able to take money out of accounts?
Truist also failed me
Big suprise. I never would have thought banks wouldnt protect their customers. How are people putting up with this?
All 3 of the banks named were huge beneficiaries of Federal money to bail them out. Trump needs to #regulate these banks when he gets into office…. like make huge examples out of them……
Its not their job.
I think I might leave my bank for Wells Fargo because it’s no lie zalle is a big scammer
What!!! Wells Fargo is one of the three banks being sued. They are one of the co-owners of zelle. Your comment makes no sense. 🤔
@juniordelarosa748 Zelle is a third party money transferring service that allows customers to access and submit money transfers. Zelle has no say on investigations and proving fraud or scam when the money is taken from a Bank account. If the money is taken from an account that is held solely by Zelle then it would be their responsibility to investigate the case.
Chase and Bank of America are horrible banks
Monkey see monkey do! Humans need to stop jumping onto bandwagons, and every new thing that seems to be convenient or easy. When Zelle first came on the scene, my tenants asked if they can pay their rent to me via Zelle. Nope, you cannot. Convenience is not always better.
I bet you made them pay cash instead
Almost any form of payment is risky now a days.
The Healthcare and banking no way
This lawsuit is all about the regulators flexing. This is a way for regulators to get banks the permission to access more of customers’ personal data, and go into bank accounts and take money.
They say it’s political. Wells Fargo has been hit with 3 large fines for its illegal business practices. So that’s kind of hard to take their word for anything.
Not using Zelle anymore. Thanks CHASE
Do we believe this from fake news
Yes they rob me 500 dollars too
This gives no information at all.
Well, I filled out the complaint form, and anyways Chase can’t do anything. I pay for some products on a website and as soon as I send the money, I notice they change phone numbers, so I fill reports, and they just told me we can’t do anything.