Zelle and other digital payment apps, such as Venmo and Cash App, make it easy for scammers to get your money, and many scammers target people on social media. According to Chase, nearly 50% of fraud reports it received from June 1, 2024, to Dec. 31, 2024, came from social media.

The Trump administration isn't slowing down its efforts to defang the Consumer Financial Protection Bureau, with lawsuits dropped against a handful of big banks and financial services firms, most notably a case previously accusing payments app Zelle of failing to secure its network.

The Consumer Financial Protection Bureau (CFPB) hit three of the United States’ biggest banks with a lawsuit, which has now been dropped.

The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the Zelle person-to-person payments network. The suit had also named Bank of America, JPMorgan Chase, and Wells Fargo as defendants. The financial institutions are three of the seven bank owners of Early Warning.

The very people the CFPB is supposed to protect would be the victims here. If the service is harmful to customers, then why is it so wildly popular with American consumers and small businesses?

It's the latest lawsuit abandoned by the Consumer Financial Protection Bureau since Trump appointees have taken over at the bureau.