Easy to Use, Mobile Payment Apps Are Also Easy to Misuse While they have taken steps to help prevent mishaps, a new report finds they offer few protections if, for instance, users accidentally send money to the wrong person.
Few Customers Get Refunds for ‘Rampant’ Zelle Fraud, Senator’s Report Says Elizabeth Warren’s analysis of fraud and scam complaints on the payment network found that banks at times violate a federal consumer protection law.
When Customers Say Their Money Was Stolen on Zelle, Banks Often Refuse to Pay Federal law requires banks to reimburse customers for unauthorized electronic transfers, but they often refuse, stranding victims.