Rohit Chopra testifies to the congress while CFPB undertakes a legal action against Zelle
Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), testified in front of the Senate Committee for banks, homes and urban affairs at the end of November 2023, addressing the issues relating to the protection of current financial consumers. A few weeks later, the CFPB intensified its efforts by presenting a cause against Zelle, an important network of peer-to-peer payments, and its three largest operators-jp Morgan Chase, Bank of America and Wells Fargo-they treated a bankruptcy in facing the fraud and adequately compensate the victims. The cause marks a significant move in the largest CFPB campaign to make financial…