New York AG James sues Zelle parent company for alleged fraud

1. New York AG sued Zelle's operator for enabling fraud, impacting many users. 2. Zelle lacked essential security features, allowing over $1 billion in fraud. 3. Zelle's registration process and bank partnerships drew scrutiny and alleged negligence. 4. The lawsuit follows a previous dismissal by the CFPB against similar claims. 5. New measures for fraud protection may be mandated as a lawsuit outcome.