A new CFPB rule requires banks to refund Zelle fraud victims for unauthorized transactions, reversing the previous policy where consumers bore the loss. Major banks are already implementing the changes.
New Protections
- Unauthorized transactions: full refund within 10 business days
- Scam transactions: refund if reported within 48 hours
- Banks share liability for fraud on their platforms
- Maximum dispute amount: $2,500 per incident
Zelle fraud complaints hit 190,000 in 2025, with victims losing an average of $400 per incident. The banking industry fought the rule but ultimately agreed after congressional pressure.
