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The Consumer Financial Protection Bureau (CFPB) has launched a lawsuit against major banks JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo (WFC), along with Zelle's operator Early Warning Services. The bureau alleges these financial institutions failed to adequately protect consumers from fraud, claiming Zelle was launched without sufficient fraud protection measures, and the banks failed to assist customers in recovering stolen funds.
The Consumer Financial Protection Bureau sued Zelle operator Early Warning Services and three of its owner banks — Bank of America, J.P. Morgan Chase and Wells Fargo — alleging that they failed to protect consumers from “widespread fraud” on the peer-to-peer payment network.
Financial regulators on Friday filed a lawsuit against JPMorgan Chase, Bank of America, Wells Fargo and Zelle's parent firm, accusing the companies of failing to protect consumers from “widespread fraud” on the payments platform.
KBW praises Citi's value, Goldman's revenue upside and Bank of America's expected net interest income growth.
The Consumer Financial Protection Bureau on Friday sued the operator of the Zelle payments network and the three U.S. banks that dominant transactions on it. The agency alleges that the firms failed to properly investigate fraud complaints or give victims reimbursements.
The Fed signals fewer rate cuts for 2025 on persistent inflation. So, the operating backdrop for banks like JPM, BAC, C, CMA & KEY is less likely to improve.
Warren Buffett may very well be the most famous investor of all time. His uncanny ability to constantly pick the right horse earned him the nickname, "The Oracle of Omaha.
The Fed is likely to cut interest rates today for the third time in 2024. Yet, the outlook for the four rate cuts anticipated in 2025 remains uncertain.
Zacks.com users have recently been watching Bank of America (BAC) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
In November, I invested $1,400 primarily in Business Development Companies, boosting my yearly dividend income by $148, with a YTD total exceeding $1,400. My portfolio achieved all-time highs, driven by a strong earnings season and a dovish Fed, with BDCs like Goldman Sachs BDC and Blackstone Secured Lending Fund as key picks. November's dividend income hit a record $620, a 20% Y/Y growth, mainly due to ongoing investments into Hercules Capital.