Bank of America Says CFPB's Zelle Investigation May Lead to Litigation
BACBank of America(BAC) PYMNTS.com·2024-10-30 22:52

Bank of America may ask a court to resolve the Consumer Financial Protection Bureau's (CFPB) investigation of the bank's processing of payments through the Zelle network. The bank said in a Tuesday (Oct. 29) filing with the Securities and Exchange Commission (SEC) that it has been responding to the CFPB's inquiry. "The CFPB staff has initiated discussions with the corporation to pursue a resolution of the inquiry or file an enforcement action," Bank of America said in the filing. "The corporation is evaluat ...