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(Reuters) -The U.S. Consumer Financial Protection Bureau said on Friday it filed a lawsuit against JPMorgan Chase, Bank of America and Wells Fargo for failing to protect consumers from alleged ...
Bank of America, in its own statement, said that "more than 99.95 percent of transactions across the Zelle network go through without incident. When a client has an issue, we work directly with them."
“Defendants’ failures resulted in millions of complaints about Zelle fraud at (JP Morgan Chase, Bank of America and Wells Fargo) alone, including complaints of over $290 million in fraud ...
In contrast, in the five years prior to 2008, only 10 banks failed. [2] [3] At the end of 2022, the US banking industry had a total of about $620 billion in unrealized losses as a result of investments weakened by rising interest rates. [4] A bank failure is the closing of a bank by a federal or state banking regulatory agency. The FDIC is ...
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
Charter Bank Santa Fe: New Mexico: 2010 $1.2 billion $1.7 billion Alliance Bank Culver City: California: 2009 $1.1 billion $1.6 billion City Bank Lynnwood: Washington: 2010 $1.1 billion $1.6 billion Columbia River Bank The Dalles: Oregon: 2010 $1.1 billion $1.6 billion Community Bank and Trust Cornelia: Georgia: 2010 $1.1 billion $1.6 billion ...
The lawsuit charged that more than $360 million in losses associated with Zelle-related fraud hit 420,000 Chase customers; some 210,000 Bank of America customers complained that they lost $290 ...
A federal grand jury in Des Moines indicted 18 people with bank fraud and money laundering charges. Part of a nationwide scheme, defendants from Arizona, Iowa, Illinois and Indiana allegedly drew ...