Zelle fraud under fire as New York sues the payment app’s creators over $1 billion in scam losses. Here's what users need to know.

The lawsuit alleges that Early Warning Services, Zelle's parent, failed to implement safeguards, enabling fraudsters to steal more than $1 billion.

New York’s attorney general has sued the parent company of the Zelle payment platform, months after the federal Consumer Financial Protection Bureau abandoned a similar case under the Trump administration.