Customers at JPMorgan Chase, Wells Fargo and Bank of America have collectively lost $870 million to scammers on Zelle in the last seven years, according to a powerful US bank regulator. The Consumer Financial Protection Bureau (CFPB) says it’s suing the three banking giants and Zelle’s parent firm for allegedly failing to protect people from widespread fraud on the popular payments network. The lawsuit, which has been anticipated for months, alleges hundreds of thousands of the banks’ customers filed fraud complaints and were largely denied assistance, with some being told to contact the fraudsters directly to get their money back. “Bank of America, JPMorgan Chase, and Wells Fargo also allegedly failed to properly investigate complaints or provide consumers with legally required reimbursement for fraud and errors. The CFPB is seeking to stop the alleged unlawful practices, secure redress and penalties, and obtain other relief.” The CFPB alleges widespread consumer losses and security failures on the part of the banks, stating the lenders limited identity verification measures, allowed repeat offenders to hop between banks, ignored red flag warnings from customers and abandoned customers after fraud occurred. CFPB Director Rohit Chopra says the banks, which co-own Zelle, rushed to launch the platform without properly addressing security concerns. “The nation’s largest banks felt threatened by competing payment apps, so they rushed to put out Zelle. By their failing to put in place proper safeguards, Zelle became a gold mine for fraudsters, while often leaving victims to fend for themselves.” Zelle says it’s fully prepared to defend itself in court. “The CFPB’s attacks on Zelle are legally and factually flawed, and the timing of this lawsuit appears to be driven by political factors unrelated to Zelle. Zelle leads the fight against scams and fraud and has industry-leading reimbursement policies that go above and beyond the law.” JPMorgan Chase has previously said it may sue the CFPB over the Zelle investigation, stating the agency is going “above and beyond what the law requires.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post JPMorgan Chase, Wells Fargo and Bank of America Customers Lose $870,000,000 To Scammers on Zelle, Forcing Victims To ‘Fend for Themselves’: CFPB appeared first on The Daily Hodl .
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The European Commission has unconditionally approved Nvidia’s $700 million bid for Israeli startup Run:ai, a deal that was under scrutiny over competition concerns. This comes after the case had been referred to the Commission by an Italian competition authority in September asking if the proposed acquisition would not result in competition concerns in the European Economic Area (EEA). EU gave thumps up to the Nvidia transaction After some rigorous screening, the EU said it approved the proposed acquisition of the Israeli startup saying it did so unconditionally, adding the transaction would raise no competition concerns in the EEA. According to a Reuters article , the EU’s probe into the deal focused on activities that could strengthen Nvidia’s control over GPUs, sought-after chips that could divide and process computer tasks. The EU, however, concluded that the deal would not raise any such concerns in the EEA. Nvidia designs and supplies GPUs for data center applications, while the Israeli startup – Run:ai is a supplier of GPU orchestration software that enables corporate clients to manage their compute infrastructure. “Since Nvidia is a leading producer of key hardware for AI applications used in the EU and beyond, it was important to carefully check whether its acquisition of start-up software company Run:ai may have negatively impacted competition in critical markets which are key for future competitiveness,” said Teresa Ribera, executive vice-president for clean, just and competitive transition at the European Commission, in a statement. “But our market investigation confirmed to us that other software options compatible with Nvidia’s hardware will remain available in the market.” Ribera. The statement also emphasized that the two companies’ areas of activity do not overlap, while the EU Commission on the other hand has the authority to oversee mergers and acquisitions of large multinational corporations operating in the EU countries. The EU has scrutinized other big techs apart from Nvidia Nvidia announced the acquisition of the Israeli startup in April in a deal worth $700 million, a price tag that was to be reviewed by the bloc following requests by Italian regulators under the EU Merger Regulation (EUMR). When announcing its plans, Nvidia said the deal would help customers make more efficient use of their computing resources. “Run:ai enables enterprise customers to manage and optimize their compute infrastructure, whether on-premises, in the cloud or in hybrid environments,” Nvidia said in an April 24 blog post. Run:ai co-founder and CEO Omri Geller revealed the startup has collaborated with Nvidia since 2020, adding that both companies “share a passion for helping our customers make the most of their infrastructure.” However, regarding the proposed acquisition, the EU Commission revealed in October that Nvidia would need to get approvals and antitrust clearance for the transaction due to the raised concerns that the deal would undermine competition within the sectors in which the two companies operate. Responding to the EU’s concerns then, Nvidia spokesperson John Rizzo said back then that the company was willing to provide any information to regulators regarding the deal. “After the acquisition closes, we’ll continue to make AI available in every cloud and enterprise, and help customers select any system and software solution that works best for them.” Nvidia. These developments also come as the big tech industry has for years enjoyed minimal oversight on the takeover of smaller rival firms prompting regulators to pay more attention to these to ensure fair competition. Firms like Amazon, Microsoft, and Google have also been scrutinized over their investments in AI startups or other tech firms as they expand their AI operations and stay ahead of peers. The EU has probed the partnership between Microsoft and OpenAI as well as others like Google and Samsung. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As Bitcoin soars, XYZVerse rises as a meme coin contender, uniting sports fans for massive gains. Table of Contents Trump’s momentum ignites XYZ: The meme coin champion Step into the ring with XYZ – the all-sports meme token Why XYZ stands out Don’t watch from the sidelines – join the XYZ presale Pepe Dogecoin Conclusion As Bitcoin reaches unprecedented heights, the meme coin market is buzzing with excitement. Dogecoin’s long-held throne is being challenged, and a new contender is capturing investor attention. The search is on for tokens that could deliver extraordinary gains in this electrified atmosphere. XYZVerse (XYZ) emerges as a unique player, uniting sports fans across the globe and aiming to outshine previous successes with its blend of meme culture and athletic passion. You might also like: XYZVerse to rival XRP & Cardano in the bull market at $0.1 Trump’s momentum ignites XYZ: The meme coin champion The crypto world thrives on big moves, and Trump’s victory has lit a fire under the market, creating fertile ground for next-generation tokens. While coins like PNUT and FRED saw brief surges of 4,500% and 6,000%, they buckled under selling pressure. Enter XYZ, a token with ambitions far beyond fleeting hype. With an impresive target of 99,900% growth, XYZ is primed to deliver on its promise to dominate the meme coin arena. Step into the ring with XYZ – the all-sports meme token Unlike its predecessors, XYZ isn’t just another meme coin; it’s the first-ever all-sports token, built for thrill-seeking investors who crave the adrenaline of competition. With its community-driven ecosystem, XYZ brings together sports enthusiasts and crypto degenerates, creating a movement powered by ambition and resilience. Presale Gains: Early investors are already seeing significant returns. Launch Price: $0.0001 Current Price: $0.001 (+1,000%) Next Stage: $0.001333 (+33% increase incoming) Final Target: $0.1 (a staggering 99,900% gain). Why XYZ stands out Built for winners: Fueled by the sports mentality, XYZ appeals to those who thrive on competition, with a rallying cry that unites athletes, fans, and investors alike. Explosive growth potential: A presale that’s already smashing milestones proves XYZ is no ordinary contender. Rising in the meme coin rankings: As PEPE challenges Dogecoin, XYZ emerges as a serious player with a one-of-a-kind offering. Don’t watch from the sidelines – join the XYZ presale With the meme coin market heating up, XYZVerse looks perfectly positioned to seize the moment and redefine what it means to be a meme coin champion. Early investors could see pennies transform into millions – so don’t miss your shot at crypto glory! Pepe Pepe (PEPE) has seen significant price changes over the past six months, rising by 67.15%. In contrast, the past week showed a drop of 24.02%, and over the past month, it decreased by 6.85%. The current price ranges between $0.00002 and $0.00002779, reflecting recent market volatility. The coin is nearing its nearest support level at $0.000018, which is about 25% below the current price. Falling below this could lead to the next support at $0.00001126, a further drop. On the upside, if demand increases, Pepe could reach the nearest resistance at $0.00003144, about 31% higher. Breaking past this could aim for the second resistance at $0.00003818, nearly 59% above the current price. Technical indicators suggest a possible rebound. The RSI is at 30.42, close to oversold, indicating the price may rise. The Stochastic indicator at 32.86 points to similar potential. The 10-day moving average is $0.00001929, below the 100-day average of $0.00002261, showing a recent downtrend. If momentum builds, the price could move above these averages. The negative MACD level could shift to positive, signaling upward momentum. Dogecoin Dogecoin (DOGE) has experienced notable price changes recently. Over the past week, its price decreased by 12.87%, settling within a range of $0.36 to $0.46. The past month saw a smaller decline of 2.80%. Despite these short-term drops, Dogecoin has surged by 189.72% over the last six months, showing significant long-term growth. Technical indicators reveal mixed signals. The Relative Strength Index (RSI) is at 38.21, nearing oversold territory, which might suggest a potential price rebound. The 10-day Simple Moving Average is $0.36, while the 100-day SMA is slightly higher at $0.39, indicating a short-term downward trend. The MACD level stands at -0.00808, reflecting recent bearish momentum. Looking ahead, Dogecoin’s nearest support level is $0.31. If the price falls below this, the next support is at $0.21. On the upside, the nearest resistance level is $0.51. Breaking through this could lead to the next resistance at $0.62. Overcoming these resistance levels could result in price increases exceeding 10% to 20%. Given its substantial six-month growth, Dogecoin may have the potential for further gains if market conditions become favorable. Conclusion While PEPE and DOGE are notable, XYZ unites sports fans and meme culture, aiming for 20,000% growth and positioning itself as the next G.O.A.T of memecoins. For more information, visit the XYZVerse website and follow the project on X and Telegram for the latest updates. Read more: Cardano, Dogecoin, XRP, and XYZVerse: Bold 2025 bull run price predictions inside Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
As Bitcoin soars, XYZVerse rises as a meme coin contender, uniting sports fans for massive gains. #partnercontent
During Friday’s U.S. trading hours, the crypto market witnessed a relief rally from the recent correction trend as…
Developers will soon be able to deploy Solana-based AI agent applications on Injective and bridge a variety of cryptocurrencies between them.