The Consumer Financial Protection Bureau dismissed its lawsuit against Zelle operator Early Warning Services and the three banks that run transactions on it. The agency had accused JPMorgan Chase, Bank of America, and Wells Fargo of failing to investigate fraud complaints or reimburse victims. The case was dismissed with prejudice, which prevents the CFPB from reopening claims or recovering funds for consumer relief. The move comes amid a legal battle over mass firings and data purging at the agency.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Consumer Financial Protection Bureau dismissed its lawsuit against cell operator
00:06Early Warning Services and the three banks that run transactions on it.
00:10The agency accused JPMorgan Chase, Bank of America, and Wells Fargo of failing to
00:15investigate fraud complaints or reimburse victims. The case was dismissed with prejudice.
00:20The CFPB's dismissal with prejudice prevents it from reopening claims or recovering funds
00:25for consumer relief. The move comes amid a legal battle over mass firings
00:30and data purging at the agency.
00:32For all things money, visit Benzinga.com slash GSTV.