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CFPB to Push Banks to Cover More Payment-Services Scams
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WASHINGTON—The Consumer Financial Protection Bureau is preparing to prod banks to pay back more customers who are the victims of alleged scams on Zelle and other money-transfer services, according to people familiar with the coming regulatory effort.
Under new guidance the bureau is preparing to release in the coming weeks, banks could face heightened requirements around certain scams that have become more prevalent on these platforms, these people said, such as when a customer is tricked into sending money to a scammer pretending to be a representative of his or her bank.
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