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New York AG sues Zelle parent for antifraud deficiencies

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Photo: Stefanie Keenan/Getty Images

Alleging $1 billion in money lost to scams, New York takes up the mantle of a weakened Consumer Finance Protection Bureau.

New York State Attorney General Letitia James has launched a lawsuit against instant money transfer app Zelle’s parent company Early Warning Services (EWS) – itself jointly owned by seven of the US’s largest banks – alleging that a lack of safety protocols was responsible for customers losing over $1 billion

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