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Financial Firms on Zelle Reverse Transfers to Address Consumer Protection Concerns Raised by U.S. Lawmakers and Federal Consumer Watchdog.

By News Masher on November 13, 2023
Financial Firms on Zelle Reverse Transfers to Address Consumer Protection Concerns Raised by U.S. Lawmakers and Federal Consumer Watchdog.Image courtesy of assets2.cbsnewsstatic.com

Key takeaways: Financial firms on Zelle have begun reversing transfers their customers made to scammers. The reversal of transfers is being handled by Early Warning Services (EWS). The policy change is a response to consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog. Financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Chase…

Continue readingFinancial Firms on Zelle Reverse Transfers to Address Consumer Protection Concerns Raised by U.S. Lawmakers and Federal Consumer Watchdog.