JPMorgan Poised to Challenge CFPB Over Zelle Fraud Scrutiny

The bank faces potential enforcement action as lawmakers push for stronger consumer protections on peer-to-peer payment platforms.

JPMorgan Chase may sue the CFPB over inquiries into fraud on the Zelle platform.
Democratic lawmakers have introduced bills to expand consumer protections against payment scams.
Zelle, co-owned by major banks, has faced criticism for inadequate reimbursement policies.
Federal data shows a significant increase in consumer losses due to payment app fraud.
Current laws do not require banks to refund consumers tricked into authorizing payments.