New York AG sues Zelle parent company, alleging shortcomings allowed scammers to steal $1 billion

New York AG sues Zelle parent company, alleging shortcomings allowed scammers to steal $1 billion

New York Attorney General Letitia James filed a lawsuit Wednesday against Early Warning Services, or EWS, alleging the parent company of Zelle failed to implement certain safeguards, causing “catastrophic harm to millions of consumers” and allowing fraudsters to steal more than $1 billion from 2017 to 2023. EWS, which is co-owned by Bank of America, Capital One,…

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