Warren said several of the EWS owner banks - including Capital One, JPMorgan and Wells Fargo - failed to provide all of the requested data. Zelle is enabled by default for customers at over 1,000 different financial institutions, even if a great many customers still don’t know it’s there. Zelle is run by Early Warning Services LLC (EWS), a private financial services company which is jointly owned by Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Elizabeth Warren (D-Mass.), who in April 2022 opened an investigation into fraud tied to Zelle, the “peer-to-peer” digital payment service used by many financial institutions that allows customers to quickly send cash to friends and family. The findings came in a report released by Sen. But new data released this week suggests that for some of the nation’s largest banks, reimbursing account takeover victims has become more the exception than the rule. financial institutions are legally obligated to reverse any unauthorized transactions as long as the victim reports the fraud in a timely manner. consumers have their online bank accounts hijacked and plundered by hackers, U.S.
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