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Three of the biggest US banks are facing a lawsuit for ‘widespread fraud’ on Zelle

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Summary
Nutrition label

76% Informative

Zelle is a payment network designed to compete with payment platforms like Venmo and Cash App .

The CFPB says the banks “rushed” it to market, enabling fraud that’s cost consumers $870 million since it launched in 2017 .

Zelle pushed back on the lawsuit in a statement published on Friday .

VR Score

70

Informative language

64

Neutral language

71

Article tone

formal

Language

English

Language complexity

63

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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