JPMorgan Chase, Bank of America, Wells Fargo and other unnamed large banks are reportedly facing a federal investigation over scams and fraud on the billion-dollar instant payments platform Zelle.
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JPMorgan Chase, Bank of America, Wells Fargo and other unnamed large banks are reportedly facing a federal investigation over scams and fraud on the billion-dollar instant payments platform Zelle.
Regulators hate these fintech platforms and their "instant" payments. They will be going after venmo and cash app too.
I remember the one time I tried using zelle, I had problems and the bank wouldnt help.
I was overseas, and they asked me to come into the office to verify my identity.
Explaining my situation got me nowhere.