Capital One Faces Class Action Over Zelle Fraud Schemes

By Emilie Ruscoe (June 3, 2022, 4:01 PM EDT) — Bank holding company Capital One faces a proposed class action alleging that it failed to live up to its promises to help customers who fell victim to fraud using the money transfer service Zelle.

In a suit originally filed in May in Florida state court and removed to federal court in Miami on Tuesday, Capital One customer Bernard Mensah claimed the bank touted Zelle as safe and secure, but alleges that when its customers lose funds to scammers on the Zelle platform, Capital One “does not and will not reimburse its account holders for losses via Zelle due to fraud.”…

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