Consumers lost almost a billion dollars to Zelle fraud between 2017 and 2023. While that sounds like a lot, Zelle transferred over a trillion dollars last year. Zelle – officially Early Warning Services – is owned by the big banks including Wells, Chase, Bank of America and a few others. While many kinds of bank […]
Continue reading → [DISPLAY_ACURAX_ICONS]Feds Sue JPMorgan, Wells, BofA Over Zelle Fraud Given the administration is changing next month and the new administration is not fond of rules that negatively impact business, I don’t know if this lawsuit will go anywhere, but the complaint said it took Zelle years to respond at all to Zelle fraud and in most […]
Continue reading → [DISPLAY_ACURAX_ICONS]Russian Court Fines Google 2 Undecillion Rubles for Blocking YouTube Accounts This is a case of YouTube blocking several Russian TV stations’ YouTube accounts. They are being fined by Russia’s anti-monopoly service from failing to restore the accounts. Google was fined, back in 2020, 100 thousand rubles a day with the fine doubling every week […]
Continue reading → [DISPLAY_ACURAX_ICONS]People’s credit reports are very important. They affect the ability to get a loan and also the interest rates they pay. In some cases, they would no longer be able to get a mortgage. or get a job. The Consumer Financial Protection bureau (CFPB) says that the bank’s conduct harmed hundreds of thousands of consumers. […]
Continue reading → [DISPLAY_ACURAX_ICONS]Consumers have been wrestling for years now about access to their personal data. There are many non-bank financial products such as Mint and WalletGyde that help consumers manage their money, but it has always been a fight between the banks and these companies (of which there are at least hundreds, maybe more). As a group, […]
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