Will's Blog: New York sues Zelle, claiming that security lapses led to $1B in consumer fraud losses; the US CFPB dropped a similar case in March (Jonathan Stempel/Reuters)

13 August 2025

New York sues Zelle, claiming that security lapses led to $1B in consumer fraud losses; the US CFPB dropped a similar case in March (Jonathan Stempel/Reuters)

Jonathan Stempel / Reuters:
New York sues Zelle, claiming that security lapses led to $1B in consumer fraud losses; the US CFPB dropped a similar case in March — Zelle was sued on Wednesday by New York Attorney General Letitia James, who said the electronic payment platform's refusal to adopt critical safety features …

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