US EditionPayments app Zelle begins refunds for imposter scams after Washington pressure
- Banks on the payment app Zelle, including JPMorgan Chase and Bank of America, have started refunding victims of imposter scams, responding to concerns by U.S. Lawmakers and the federal consumer watchdog.
- The reimbursement is a significant change as it exceeds existing legal and regulatory requirements and applies to customers who were tricked into sending money to scammers pretending to be from a government agency, bank, or service provider.
- Zelle's new policy and changes have satisfied the Consumer Financial Protection Bureau , which had considered compelling lenders to reimburse scams. However, experts suggest that regulations for imposter fraud protections would be more beneficial for customers.
7 Articles
7 Articles
Payments app Zelle begins refunds for customers hurt by imposter scams
Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog, in a major policy change.
Payments app Zelle begins refunds for imposter scams after Washington pressure
Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by US lawmakers and the federal consumer watchdog, in a major policy change. The 2,100 financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Chase and Bank of America, began reversing transfers as of June 30 for customers duped into sending money to scammers claiming to be from a governme…
Payments app Zelle begins refunds for imposter scams after Washington pressure
By Hannah Lang (Reuters) - Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer
Payments app Zelle begins refunds for imposter scams after Washington pressure
Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog, in a major policy change. The 2,100 financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Cha
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