Finance
JPMorgan Says CFPB May Levy Complaint in Zelle Investigation
- Regulator might also pursue a settlment, bank says in filing
- Wells Fargo has also disclosed US inquiries linked to Zelle
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JPMorgan Chase & Co. said the Consumer Financial Protection Bureau may seek to punish the bank after an investigation into its handling of Zelle payments.
“The CFPB staff has informed the firm that it is authorized to pursue a resolution of the inquiries or file an enforcement action,” the New York-based lender said in a quarterly filing Friday. “The firm is evaluating next steps, including litigation.”