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Warren presses CFPB on alleged Zelle fraud
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Banking, Emerging Technology, Government Oversight
Friday, November 11, 2022
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Sen. Elizabeth Warren (D-Mass.) sent a letter to the Consumer Financial Protection Bureau (CFPB) summarizing the findings of her investigation revealing high rates of fraud and scams on the bank-owned peer-to-peer platform Zelle.
The American Bankers Association, however, is pressing the CFPB to not shift liability on Zelle’s alleged issues with fraud.
Read on for more details.
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