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CFPB drops Zelle fraud case

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The Consumer Financial Protection Bureau has dropped its lawsuit against Zelle payments network operator Early Warning Services and three U.S. banks.

JPMorgan Chase, Bank of America and Wells Fargo had been sued along with Early Warning Services in December over allegations that the companies failed to properly investigate fraud complaints or provide reimbursement for victims.

The CFPB has dismissed at least half a dozen cases since acting Director Russell Vought has taken over.

Read more from CNBC.

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