![]() Menendez and consumer advocates claim that is not enough given the sophistication of the scammers who often impersonate the legitimate financial institutions that back the Zelle app. Zelle has pushed back hard on changing the current consumer protections, and claims they constantly remind users of the app to only send money to "trusted recipients." They claim constant reminders and alerts through the transfer process give the consumer ample time to reconsider any transfers, and the option to cancel a transfer if the recipient is not yet enrolled with Zelle. ![]() Menendez wants the Consumer Financial Protection Bureau (CFPB) to update rules protecting consumers from banking scams to include money transfer apps. That differed from other types of consumer fraud involving bank accounts and credit cards, where consumer protections are greater and often the consumer has some recourse to recover the money that was stolen. Often, when a victim reports they have been scammed to their bank using a money transfer app, they are told there is nothing the bank can do because the consumer authorized the sending of funds. Menendez wants the banks to proactively do more to protect consumers. ![]() and New Jersey Citizen Action in trying to hold the big banks behind the Zelle app to greater account. The victims were joined by New Jersey U.S. ![]() Mary Powell says she was taken by an increasingly common scam, someone promising to help her get a refund from a seemingly bogus Amazon purchase. Alex Carranzana says he was scammed out of $600 bucks trying to buy football tickets.
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