<br><div><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__bv"/><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__bvd gnt_x__h"/><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Trump names former PayPal exec as crypto and AI czar"><div class="gnt_em_vp_w" data-g-r="vp_tp" data-c-vt="teal" data-t-pl="teal-hero"><button class="gnt_em_vp_a gnt_em_vp__tp_a" data-g-r="vp_ap vp_tg" data-c-vpattrs="{"muted":true,"bContent":false,"an":"usatoday","pn":"USA TODAY","vidNum":1,"docking":true,"t0060":1,"cut":1}" data-c-vpdata="{"adsEnabled":true,"awsPath":"news","byline":"","canonicalURL":"","contentSourceCode":"REUT","credit":"","duration":78000,"headline":"Trump names former PayPal exec as crypto and AI czar","hlsURL":"https://hlsmedia.gannett-cdn.com/authoring/videos/reuters/renditions/76814586007/5f2db331-1f5a-4bb4-a5f0-6d0aab7f2ac7/480p_30fps,720p_30fps,1080p_30fps,master.m3u8?subtitles=76814586007","id":"76814586007","image":{"opto":true,"url":"/gcdn/authoring/videos/reuters/thumbnails/76814586007.jpg"},"keywords":"Artificial Intelligence,Cryptocurrency,Donald Trump,Do Not Syndicate","mp4URL":"https://www.gannett-cdn.com/authoring/videos/reuters/renditions/76814586007/5f2db331-1f5a-4bb4-a5f0-6d0aab7f2ac7/1080p_30fps.mp4","origin":"Reuters","pageURL":{"long":"https://www.usatoday.com/videos/news/2024/12/06/trump-names-former-paypal-exec-as-crypto-and-ai-czar/76814586007/"},"promoBrief":"Donald Trump has named former PayPal executive David Sacks as AI and crypto czar. Trump said Sacks would focus on making the U.S. a world leader.","propertyName":"USATODAY","series":"","ssts":{"section":"news","subsection":"","topic":"","subtopic":""},"tags":[{"id":"f31ad722-8c89-493a-be6c-802829384827","name":"Artificial Intelligence"},{"id":"b3f3e03d-742b-4567-bd92-a34bd5b37894","name":"Cryptocurrency"},{"id":"26f031d1-9924-4f10-b4e6-019d076113d5","name":"Donald Trump"},{"id":"0d7241c1-c262-4ccf-82ea-4c1efacfd6dd","name":"Do Not Syndicate"}],"title":"Trump names former PayPal exec as crypto and AI czar","url":"/videos/news/2024/12/06/trump-names-former-paypal-exec-as-crypto-and-ai-czar/76814586007/"}" aria-label="Play video"><img alt="" class="gnt_em_vp_img" src="https://www.usatoday.com/gcdn/authoring/authoring-images/2024/12/26/USAT/77239259007-20241212-t-145620-z-1408311439-rc-2-pnbayou-0-d-rtrmadp-3-usacfpboverdraft.JPG?crop=6280,3534,x0,y326&width=660&height=371&format=pjpg&auto=webp" data-g-r="vp_po" fetchpriority="high" elementtiming="ar-lead-image" decoding="async"/><svg class="gnt_em_vp_svg"><use xlink:href="#gnt_svg_video_play"/></svg></button></div></aside><ul class="gnt_sh"><li class="gnt_sh_li">CFPB sues JPMorgan, Bank of America, and Wells Fargo over Zelle</li><li class="gnt_sh_li">Banks failed to protect consumers, CFPB alleges</li><li class="gnt_sh_li">Lawsuit driven by political factors, says Zelle's parent</li></ul><p class="gnt_ar_b_p">The U.S. Consumer Financial Protection Bureau said on Friday it filed a lawsuit against JPMorgan Chase JPM.N, Bank of America BAC.N and Wells Fargo WFC.N for failing to protect consumers from alleged "widespread fraud" on payments platform Zelle.</p><p class="gnt_ar_b_p">The lawsuit was initiated as the watchdog moves ahead with a bold agenda in the final weeks of Joe Biden's Democratic administration in a bid to advance consumer protections before President-elect <a target="_blank" href="http://www.usatoday.com/news/politics/donald-trump/" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a">Donald Trump</a> overhauls the agency, Reuters reported last month. The moves defy congressional Republicans, who have called for agencies to cease rulemaking.</p><p class="gnt_ar_b_p">The CFPB seeks to stop the alleged unlawful practices via Zelle, secure redress and penalties, and obtain other relief for consumers, it said in a statement.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">"What they built became a goldmine for criminals," making it easy for fraudsters to drain accounts, while providing insufficient protections for consumers or making them whole for losses, CFPB Director Rohit Chopra told journalists in a briefing. "These banks broke the law by running a payments system that made fraud easy, while refusing to help the victims."</p><p class="gnt_ar_b_p">The CFPB said the banks violated federal law through critical failures, alleging they left the door open to scammers, allowed repeat offenders to hop between banks, ignored red flags that could have prevented fraud...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://www.usatoday.com/story/money/personalfinance/2024/12/26/cfpb-sues-banks-over-zelle-fraud/77238335007/">Read more <span>➤</span></a> </div>
