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Frequently asked questions

  • Miscellaneous
What is this case about?
Zelle fraud is a widely reported issue by consumers using Zelle to make payments. The fraud occurs when scammers posing as financial institutions or utilities text consumers urging them take immediate action because their accounts may have been compromised. The consumer then communicates with the fraudster who will get them to authorize a Zelle transfer to the fraudster’s account from their bank account. According to reports and Congressional inquiries, Zelle and the banks do not properly investigate these types of unauthorized transactions and do not follow federally required error resolution procedures to help consumers. We are pursuing private arbitration claims against banks on behalf of consumers who experienced fraud and unauthorized transactions with Zelle. Successful claims could be entitled to $1,000 in compensation in addition to recovery of the lost funds.
Do I need to have used the Zelle app to qualify for this claim?
Yes, you need to have used the Zelle app to qualify. Zelle is owned by Early Warning Services, LLC, a company owned by several of the largest banks in the United States. The banks have said that they are not responsible for fraud that occurs on Zelle’s platform. However, despite being owned by banks, we are not pursuing claims for people who experienced Zelle fraud based on transfers directly through their banking apps.
What is the Electronic Fund Transfer Act (EFTA)?
The Electronic Fund Transfer Act (EFTA) is a federal law that governs online banking and the electronic transfer of money. You can read more about it here. The EFTA regulates financial institutions like Zelle so that these companies take proper precautions with your money and make certain required disclosures to consumers. If a company does not comply with the EFTA’s provisions, consumers are entitled to pursue a claim against the company for both their actual damages, and minimum statutory damages.
What is arbitration?
Arbitration is a private dispute resolution process. Your claim will not be filed in court. Your claim will be decided by an arbitrator, who is a neutral person chosen by you and the company. We can select an arbitrator for you who is fair and neutral.
Once I sign up, how does the process work?
Once you sign up, you’ll be asked to sign our attorney-client agreement. That allows us to investigate your private arbitration claim. Then, log in to your secure client portal. All information is strictly privileged and confidential and will only be used for your claim. Answer a few more questions, upload a few documents, and we’ll take it from there. We’ll analyze your claim and your losses, negotiate with the company, and, if necessary, pursue your claim in arbitration.
Is arbitration confidential?
Yes, arbitration is a confidential, private process.