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Early Warning Services LLC, the network operator of Zelle, has announced that it is taking steps to revise its network regulations and protect users against fraud.
The service, created in 2017, is operated by Early Warning Services LLC, a company co-owned by seven banks: Bank of America, Wells Fargo JP Morgan Chase, Truist, U.S. Bank, PNC and Capital One.
Early Warning Services touted its safety record in a statement this week, saying, "Tens of millions of consumers use Zelle without incident, with more than 99.9% of payments completed without any ...
The chief executive of Early Warning Services, which runs Zelle, told a Senate subcommittee in July that only 0.1% of the transactions on Zelle involved a scam or fraud; in 2023, the company said ...
Back in 2021 alone, about 1.8 billion payments – totaling $490 billion – were sent by consumers and businesses through the Zelle Network, according to Early Warning Services. Total dollars ...
Good news for Zelle users. Thanks to a major policy change that was implemented in November, banks that utilize Zelle will now refund victims of imposter scams. Early Warning Systems (EWS), which ...
Zelle has long argued its fraud and scam rates are low. It processed $629 billion worth of payments in 2022, according to the network, with 99.9% of transfers made without a fraud or scam report.
The Consumer Financial Protection Bureau today announced it is suing three major banks and Early Warning Services, the bank-owned consortium that runs the popular payment app Zelle.