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Zelle explores stablecoin rails for global money transfers

Zelle is building its international expansion on the backbone of stablecoin technology in a move to translate its domestic payment dominance into a global language of faster, cheaper cross-border transactions. Summary Zelle moves to adopt stablecoin rails for faster, cheaper cross-border transfers. Backed by owner banks, the initiative leverages regulatory clarity and a $1 trillion … Read more

New York sues Zelle after Trump’s CFBC drops similar case: ‘No one should be left to fend for themselves after falling victim to a scam’

New York’s attorney general on Wednesday sued the parent company of the Zelle payment platform, months after the federal Consumer Financial Protection Bureau abandoned a similar case as the Trump administration was gutting the agency. Attorney General Letitia James, a Democrat, sued Early Warning Services in New York state court, alleging that the company, which is owned by … Read more

CFPB drops JPMorgan, Bank of America, Wells Fargo lawsuit over Zelle fraud

FILE PHOTO: Office of Management and Budget (OMB) Acting Director Russell Vought testifies before House Budget Committee on 2020 Budget on Capitol Hill in Washington, U.S., March 12, 2019.  Yuri Gripas | Reuters The Consumer Financial Protection Bureau on Tuesday dismissed its lawsuit against the operator of the Zelle payments network and the three U.S. banks … Read more

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