New York AG James sues Zelle parent company for alleged fraud
1. New York AG sued Zelle operator for fraud facilitation. 2. Zelle reportedly lost over $1 billion to scams from 2017-2023. 3. The lawsuit seeks restitution and court-ordered anti-fraud measures. 4. Previous CFPB lawsuit against Zelle was dismissed amid regulatory changes. 5. BAC is among banks named, increasing potential reputational risks.