In June 2023, Zelle started requiring banks to reimburse ... whenever a consumer reports a scam or fraudulent transaction, the bank has to report that to Zelle, which will in turn inform the ...

The big banks that run Zelle in particular “rarely ... rejected a combined total of $560 million of scam disputes between 2021 and 2023, the report found. One problem is that existing law ...

A typical Zelle scam starts with an unexpected call ... banks offering Zelle decreased from 62% in 2019 to 38% in 2023. The report recommended Zelle offer more transparency in the dispute process ...

Zelle has faced increasing pressure in recent months over fraud on the platform. Early Warning Services, a fintech co-owned by seven of the largest banks in the U.S., operates the Zelle network, and ...

Sandy Sans had rented a ski cabin in Lake Tahoe for several years via Craig's List, paying for it using Zelle ... through fraud or scams – have also increased. In 2023, consumers reported ...

On Nov. 14, 2023, Reuters reported that banks participating in the Zelle payment system had begun reimbursing victims of imposter scams who had ... provider." New reports in 2024 indicated ...