The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and three U.S. banks as federal agencies continue to pull back on previous enforcement actions now that President Donald Trump is back in office.
In December a federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on Zelle, in violation of consumer financial laws.
In the federal civil complaint, the CFPB asserted that the banks rushed to get the peer-to-peer payments platform to market without effective safeguards against fraud and then, after consumers complained about being defrauded on the service, largely denied them relief.
Donald Trump wants scammers to steal your money.
He’s a scammer so yes
Why isn’t some PAC running ads with this as a title card on every network?
I think they’re afraid of peaking early and running out of steam before midterms.
The problem is that we’ve got a start slowly delivering the antidote into their poisoned minds now so we can slowly steer the ship out of the boiling water.
Sorry, all my metaphors got jumbled up in the same bucket
Because we don’t have that kind of money
I mean what even is that? Is he profiting from the scamming somehow?
His constituents would be the main ones falling for the scams.
I would love for conservative rural voters to know the contempt trump has for them.
Doesn’t matter, we need easily digestible tidbits to feed his cultists.
It actually matters quite a lot because some of them are going to ask why and you’re not going to have an answer, thereby accomplishing nothing but emboldening them
Turn it around. Ask them why he would do this to them. To them, personally.
“Did he say he wants us to be scammed? There must be a reason this that we don’t understand”
Now what? You don’t have a reason he would want that and they know it.
You don’t get these people on our side by making shit up and giving them reasonable outs
They don’t use reason, why would I?
“He’s the one doing this to you. Ask him why he’s doing this to you.”
Because you’re just wasting your time lol
A lot of otherwise reasonable people got swept up in this for one reason or another. There’s no saving some of them but you’re not gonna win anyone over by lying to them
Guess it might be time to disable zelle on my bank. I’ve used it I think twice with people I know but I guess we’re left to take our protection into our own hands by just not being willing to use a flawed system with not enough safeguards.
When my dad had his bank account drained by Zelle twice, he specifically asked them to turn it off and they COULDN’T, so he changed banks. They did at least make him whole first.
How did they drain his account?
I’m not fully sure, the way he described what happened to me made it sound like malware had gotten installed in his Android device, he lost all connection on the phone and money was moved out of his bank account via Zelle to someone in Florida claiming to be a relative.
I was able to go into the mobile app of my bank and unenroll my email (only thing enrolled). Hopefully that did it. When I go to “Zelle” now it asks me to sign up.
CashApp is 1000x times better than all the others anyway
How do you figure? Do people really prefer to wait a couple business days to receive their money vs instantly?
Its the most widely used and also very reliable.
Although, many whom i know that use it also use their debt card so they don’t generally wait to transfer it.
Personally I never had anyone suggest cash app over Venmo. Maybe amongst zoomers, but Venmo (PayPal) is by far #1, followed distantly by Zelle, and maybe some people I exchange funds with have heard of cash app.
I usually get asked about Venmo yeah, which I always found odd because CashApp has more users by volume.
(And the Venmo app is terrible)
