And the horserace for market leadership in that field has a new leader. In 2024, Zelle topped $1 trillion in transactions for the first time. Some 151 million people used the payments network ...

The CFPB also faulted EWS and the named banks for Zelle’s “shoddy safeguards” and faulty design that allowed fraudsters to thrive on the network.

Zelle is a peer-to-peer (P2P) payment platform that allows enrollees to send and receive payments directly from their bank account using an email address or phone number. Users can send money to ...