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Morning Brew Daily
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Understanding Zelle Scams and Bank Responsibilities
This chapter examines the issue of customers losing money to scams on the Zelle payment platform and the inadequate reimbursements provided by banks. It differentiates between fraud and scams and discusses the legal recourse available to consumers, along with the complexities of reimbursement rates. The narrative is highlighted by a case study of a robbery victim navigating these challenges, shedding light on the broader implications for users of peer-to-peer payment systems.
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Transcript
