Scams using peer-to-peer systems such as Zelle and Venmo have prompted calls by regulators and lawmakers for financial firms to improve consumer protections and make victims whole.
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Wells Fargo says US scrutinizing Zelle complaints behind scenes
“Government authorities have been conducting formal or informal inquiries or investigations regarding the handling of customer disputes related to fund transfers made through the Zelle Network,” the San Francisco-based bank wrote in a quarterly filing Thursday. It didn’t elaborate.
