Bank of America, Zelle customers allege continued fraud issues, missing funds
U.S. Senator Elizabeth Warren is calling out Bank of America and the money transfer company Zelle for alleged fraud issues again.
COLUMBIA, S.C. (WOLO)— U.S. Senator Elizabeth Warren is calling out Bank of America and the money transfer company Zelle for alleged fraud issues again.
In a tweet, Warren said, “Bank of America and Zelle are apparently failing customers again, with money somehow disappearing from accounts.”
The tweet comes after customers for both companies reported issues with payments processed and missing funds.
After multiple complaints, Zelle redirected users to Bank of America, stating their app and network are up and running properly.
Bank of American has since said the issues have been resolved.
In a report, Warren said in 2021 and the first half of 2022, four banks reported almost 200,000 cases of fraudulent transactions on Zelle.
So far, no comment from Zelle on that report.