JPMorgan Chase, Wells Fargo, Bank of America and Zelle of her failure to protect customers from $ 870,000,000 from the losses suddenly brought by the US government

The Consumer Protection Office (CFPB) has dropped a lawsuit accusing JPMorgan Chase, Wells Fargo, and the Bank of America and Zeel from failure to protect consumers from $ 870 million of losses on the Zelle network over seven years.

The lawsuit, which was filed in December, claimed that Zel Mother and major banks often leave the victims of fraud on the instant payment platform “to defend themselves.”

Today, CFPB He said The court that rejects the procedure for prejudice, without explanation.

This step follows the Trump administration’s efforts to weaken the agency by stopping most of its operations, including investigations and making rules.

The administration’s position reflects a broader goal in cutting the federal bureaucracy, as Trump described the agency as a source of “waste, fraud and abuse” that harmed financial institutions.

A lawsuit against CFPB followed an investigation by the Senate Permanent Sub -Committee for Democratic Senator Richard Blumentel, who claimed that Zel and banks routinely fail to protect and recover consumers who use the popular network routinely.

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