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Photo of the Archive: The Office of Administration and Budget (OMB) Interim Director Russell Vought testifies before the Chamber Budget Committee on Budget 2020 in Capitol Hill in Washington, USA. UU., March 12, 2019.
Yuri Gripas | Reuters
He Consumer Financial Protection Office On Tuesday he discards his lawsuit against the operator of cell Payment Network and the three American banks that dominate transactions in it.
He CFPB demanded early alert services, that executes the payment network of equal to equal, as well as JPMorgan Chase, Bank of America and Wells Fargo In December, claiming that companies did not properly investigate fraud complaints or gave reimbursement of the victims.
The CFPB “dismisses this action against the early warning services of the defendants, LLC, Bank of America, NA, JPMorgan Chase Bank, NA and Wells Fargo Bank, NA, with prejudice,” said the regulator in his presentation.
Since the interim director Russell Vought took over the CFPB, the agency has retired at least one Half box Cases brought by his predecessor, Rohit Chopra. The agency is now wrapped in a Legal battle After a union that represents the defendant CFPB employees to stop mass shooting and the purge of data that would have happened under vought and ELON ALMIZCLEGovernment efficiency department.
The CFPB saying The clients of the three banks have lost more than $ 870 million since the launch of Zelle in 2017. The service was launched to provide bank customers an alternative to peer platforms, including PayPal. Last year Zelle crossed $ 1 billion in total volumesHe said he was the largest for a peer platform.
Since recent cases were dismissed with prejudice, the CFPB agreed never to bring these claims again, closing the possibility of raising funds for consumer relief, Eric Halperin’s chief of application told CNBC last week.
A Zelle brand spokeswoman said she welcomed the dismissal and reiterated an claim that CFPB’s demand was “failed legal and objective.”
“Banks have constantly followed the law by offering services through Zelle,” Lindsey Johnson, president of the Consumer Banqueros AssociationHe said in a statement after dismissal. “At a time when fraud and scam activity are increasing … we hope to pass beyond the slope of the fingers and the great policy and, instead, work constructively with the political leaders to counteract the fundamental causes of these threats.”
