US consumer watchdog sues top banks over alleged fraud on Zelle payment app

The CFPB has sued JPMorgan, Bank of America, and Wells Fargo, claiming they failed to protect consumers from widespread fraud on Zelle, prompting calls for legal and consumer safety reforms.

Zelle operator and major banks face CFPB lawsuit over fraud issues

The CFPB sued Zelle and its bank owners for failing to protect consumers from fraud, alleging negligence led to over $870 million lost and inadequate complaints handling.

CFPB takes measures against illegal credit card practices, takes action against American Express and Bank of America

The CFPB is taking measures to protect consumers from illegal credit card practices, introduce a comparison tool, and ensure transparency in credit card interest rates and rewards.

Bank of America, Goldman to donate undecided amounts to Trump's inaugural committee

Bank of America and Goldman Sachs are considering contributions to Trump's inaugural committee, continuing a trend from previous years with significant donations to presidential inaugurations.

Trump advisers reported plan to ease banking oversight may not get required support

Bank stocks showed little reaction to potential cuts to banking regulators under Trump's team, highlighting complexities in regulatory restructuring and concerns over the FDIC's role in financial stability.

Trump advisers exploring steps to shrink or abolish bank regulators - WSJ

The Trump transition team is considering reducing financial regulatory agencies like the FDIC, easing regulations, and restructuring oversight, potentially leading to significant job cuts.

Bank of America promotes 387 employees to managing director, source says

BofA CEO says business outlook is brighter under Trump, expects surge in banking, trading revenue

Bank of America inches after touting better-than-expected Q4 net interest income

Bank of America expects better Q4 net interest income and trading revenue, with a robust deal pipeline and a projected 25% increase in investment banking fees.

Bank of America bets on long-term growth in Mexico due to 'nearshoring', despite Trump tariff threat