CBA Statement on CFPB Dropping Biden-Era Lawsuit Against Zelle

WASHINGTON, D.C. – Consumer Bankers Association (CBA) President and CEO Lindsey Johnson issued the following statement in response to the Consumer Financial Protection Bureau (CFPB) dropping its Biden-era lawsuit against Zelle:

"As we explained when the CFPB first brought this suit in December, banks have and consistently do follow the law in offering services through Zelle. This service is extremely valued and critical to millions of Americans across the country to send and receive money.  

"In a time when fraud and scam activity is surging across industries and government alike, we look forward to moving past finger pointing and political grandstanding and, instead, working constructively with policymakers to counter the root causes of these threats.”