Now, the federal regulator overseeing financial products is probing whether banks that offer Zelle to their account holders are doing enough to protect them against scams.

LA Times Today: Zelle scams prompt federal probe into whether banks are doing enough to protect customers Watch L.A. Times Today at 7 p.m. on Spectrum News 1 on Channel 1 or live stream on the ...

According to CBS, the banks rejected a combined $560 million in scam disputes from 2021 to 2023.

Zelle and the banks that own the popular payments platform are facing new scrutiny over scams on the trillion-dollar network.

Zelle says it should fall on law enforcement to stop the scammers. Scams on payment apps like Zelle are getting so out of hand that federal authorities are starting to investigate.

Why Zelle scams worry lawmakers so much - and how they could hurt you Provided by Dow Jones Jul 27, 2024, 6:27:00 AM ...

Americans instantly zip billions of dollars a day to each other on Zelle and other payment apps to do everything from pay the babysitter to split restaurant bills.

According to CBS, the banks rejected a combined $560 million in scam disputes from 2021 to 2023.

Lawmakers say reimbursements for Zelle users who disputed payments have decreased, and this week called for an investigation.

Lawmakers say reimbursements for Zelle users who disputed payments have decreased, and this week called for an investigation.