Tag: Zelle payment app

Owned by seven banks, including JPMorgan Chase (JMP.N), the Bank of America (BAC.N), and Wells Fargo (WFC), Zelle is a peer-to-peer payment system. Scammers, claiming to be official representatives, such as banks, agencies, or service providers, tricked Zelle users into transferring money to these quasi-bodies. According to federal law, banks must reimburse their clients for…