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.

  • @SpaceNoodle
    link
    113 hours ago

    Doesn’t matter, we need easily digestible tidbits to feed his cultists.

    • @glimse
      link
      111 hours ago

      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

      • @SpaceNoodle
        link
        111 hours ago

        Turn it around. Ask them why he would do this to them. To them, personally.

        • @glimse
          link
          111 hours ago

          “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

          • @SpaceNoodle
            link
            110 hours ago

            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.”

            • @glimse
              link
              110 hours ago

              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

              • @SpaceNoodle
                link
                110 hours ago

                They were won over by someone lying to them. You’re not gonna reason them out of something they didn’t reason themselves into.

                Fight fire with fire.