Melissa in the Morning: Zelle Fraud

Lawmakers on Capitol Hill are looking into peer-to-peer payment system Zelle and the growing number of scams on the platform. The Senate Permanent Subcommittee on Investigations heard testimony Tuesday from the CEO of Early Warning Services, the company that runs the Zelle network. There was also testimony from executives with Bank of America, JPMorgan Chase, and Wells Fargo, the three biggest Zelle owner banks.  Committee Chair, Senator Richard Blumenthal, was at the hearing and shared the big takeaways from it as well as what will happen next.

Image Credit: Reuters