The Consumer Financial Protection Bureau dismissed another Biden-era lawsuit, this one targeting some of the world’s largest banks for allegedly rushing out a peer-to-peer payment network that then allowed fraud to proliferate.
The agency dropped the case against JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. along with the parent company of the consumer payment network Zelle with prejudice, meaning it cannot be reopened, according to a filing Tuesday in US District Court for the District of Arizona.
The lawsuit,filed at the end of last year, alleged that the banks’ lack of safeguards ...
