CFPB drops lawsuit against JPMorgan Chase, Bank of America and Wells Fargo over Zelle fraud
1. CFPB dropped its lawsuit against Zelle and major U.S. banks. 2. Over $870 million lost by customers using Zelle since 2017. 3. Zelle achieved over $1 trillion in transaction volume last year. 4. The legal shift could benefit BAC's operations in digital payments. 5. This marks a change in enforcement under the new CFPB leadership.