Possible Lawsuit for Zelle’s Fraud Reimbursement Practices
A San Francisco law firm is investigating the fraud reimbursement practices of major American banks that use the Zelle peer-to-peer payment system. This could be the latest class action lawsuit against the service.
Schubert Jonckheer & Kolbe LLP is investigating the fraud reimbursement practices of major U.S. banks using the Zelle peer-to-peer payment system, including Bank of America, Capital One, JPMorgan Chase, PNC, Truist, U.S. Bank, and Wells Fargo.
Despite Federal laws requiring the reimbursement of unauthorized electronic fund transfers, several major U.S. banks have refused to cover some customers’ fraud claims related to scams taking place on the Zelle payment system.
Zelle launched in 2017 and is owned and operated by the consortium of U.S. banks listed above.
Zelle’s practices practices when it comes to fraud, have led consumers to file multiple class action lawsuits in several U.S. jurisdictions, including Federal courts in California, Washington, and Florida. One industry analyst recently told The New York Times that “organized crime is rampant” and that scams and fraud on peer-to-peer payment systems, including Zelle, are “common and everywhere.”
The law firm says that if you have been a victim of fraud on the Zelle payment system and your bank has refused to reimburse you, please complete the form here for a free legal consultation.