Capital One No Reimbursement for Zelle Fraud Complaint

August 4, 2022

Zelle, which facilitates money transfers between individuals, is owned and operated by seven large banks and used by customers of some 1,500 participant banks and credit unions. The complaint for this class action alleges that these participant institutions, like Capital One, NA, the defendant in this case, market Zelle as “as fast, safe and secure way for consumers to send money.” But the complaint claims this is not true, because Zelle has no consumer protections against fraud.