All posts tagged "Banks"

By Hannah Lang (Reuters) - Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog, in a major policy change. The 2,100 financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Chase and Bank of America, began reversing transfers as of June 30 for customers duped into sending money to scammers claiming to be from a government agency, bank or existing service provider, said Early Warning Services (EWS), the banks' company that owns Zelle. That'......

A New York State Supreme Court judge on Tuesday ruled that banks and insurance companies can’t conceal documents in connection with a lawsuit that alleges the Trump Organization inflated assets, The Daily Beast reports.

Judge Arthur F. Engoron’s ruling follows efforts by several firms to hide documents that show how they “unwittingly” became part of the alleged scheme, the report said.

The records are central to New York State Attorney General Letitia James’ $250 million lawsuit against the Trumps that alleges that the “estate mogul and the family members he made executives got away with minimal scrutiny.”...