Bank of America, Zelle Processing of Fraudulent Transactions California Class Action

Bank of America (BofA) allows customers to withdraw money from their accounts and pay other parties via a service called Zelle. Unfortunately, according to the complaint for this California class action, it also seems to allow unauthorized parties to withdraw money from customer accounts and commit fraud. This class action brings suit against Bank of  Read more

Zelle Logo

Bank of America No Help for Defrauded Zelle Users Class Action

Early on, the complaint for this class action says, “The Zelle money transfer system is rife with fraud…” It brings suit against Bank of America, NA (BofA), which advertises the service as being “safe,” yet when consumers are defrauded through its use, it alleges, the bank does not provide assistance to recover the lost funds.  Read more

Zelle Logo

JPMorgan Chase No Recourse for Fraud via Zelle Class Action

This class action brings suit against JPMOrgan Chase Bank, NA and Early Warning Services, LLC, which does business as Zellepay.com, or the money transfer service Zelle. The complaint alleges that Chase invites consumers to sign up for Zelle by implying that it is safe, when in reality, it claims, Zelle is “rife with fraud” and  Read more

JPMorgan Chase Bank Location

Capital One No Reimbursement for Zelle Fraud Class Action

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  Read more

Zelle Logo

Fidelity Pays Fraudulent Checks on Investment Account Hawaii Class Action

Fidelity Investments, Inc. refused to honor a check for $25,000 on the account belonging to the plaintiff in this case, because the signature on it did not match his signature on file. The problem, the complaint for this class action claims, was that Fidelity had already honored fifteen other checks and three direct deposits on  Read more

Fidelity Investments Sign

MoneyGram International Fraudulent Transactions Settlement

MoneyGram International, Inc. is giving up $125 million to settle an action brought against it by the Department of Justice (DOJ) and the Federal Trade Commission (FTC). The parties had previously filed a Deferred Prosecution Agreement (DPA) in 2012, but during its term, MoneyGram’s anti-fraud and anti-money laundering programs had experienced weaknesses that led to  Read more

MoneyGram Sign on Building

TD Bank Says Fraudulent Transactions Were Authorized Class Action

When a person perpetrates a fraud on a bank account, what is the limit of liability for the account holder? The complaint for this class action alleges that TD Bank, NA’s refusal to count a transaction as fraudulent violates both the Electronic Funds Transfer Act (EFTA) and the bank’s own agreements.  Read more

TD Bank Logo

Fake Celebrity Endorsement “Free Trial” Scam Class Action

Plaintiff Cindy Adam signed up for a “free trial” of Nuvega Lash products on August 24, 2017. The complaint alleges that she “was billed multiple times that day for their products.” A couple of weeks later, she was billed again, twice, without her permission, resulting in an insufficient funds fee for her account This class  Read more

Fish Hook Snagging Credit Card on Top of Computer Keyboard

MoneyGram (MGI) Misleading Info on Anti-Fraud Efforts Securities Class Action

As the world has become smaller via electronic transactions, fraud and money laundering have become more of a concern for regulators. The complaint for this securities class action claims that MoneyGram International, Inc. provided false or misleading information to shareholders about its fraud- and money laundering-prevention measures.   Read more

MoneyGram Sign on Building

Western Union Consumer Fraud Scheme Settlement

The Western Union Company has agreed to forfeit $586 million as part of its agreements with the Department of Justice and Federal Trade Commission for violations of laws such as the Bank Secrecy Act and anti-fraud statutes. Fraudsters contacted victims and claimed to be family members in need of money, or promised them prizes or  Read more