10
Aug
Scams on payment apps like Zelle are getting so out of hand that federal authorities are starting to investigate.This week, the Consumer Financial Protection Bureau launched an investigation into JP Morgan, Bank of America, and Wells Fargo — all part owners of Zelle — after Sen. Richard Blumenthal wrote a letter to the agency.The Senate's Permanent Subcommittee on Investigations found that reimbursements from the three banks for transactions that Zelle users disputed fell from 62% in 2019 to 38% in 2023, Blumenthal said in the letter."PSI's investigation of the three banks indicates that they provide their respective employees with broad…