The lawsuit cites Zelle’s designs and features, including a “limited” identity verification process that involves assigning a “token” to a user’s email address or mobile phone number ...

The Zelle logo on a smartphone arranged in Hastings-on-Hudson, New York. The Consumer Financial Protection Bureau is suing America's three largest banks, accusing the institutions of failing to ...

"Shortly after Zelle’s launch, significant problems, including fraud being perpetrated on consumers using Zelle, quickly became apparent. But defendants did not take meaningful action to address ...