Sauder Schelkopf is investigating a class action against various banks and Zelle, the money transfer service. It is alleged a scam targeting bank customers who use the Zelle app where scammers mimicking a bank customer service agent request money transfers. It is alleged that even though individuals were wrongfully debited money through a Zelle scam banks have refused to reverse or refund the money. It further alleged that this type of scam is well known to numerous banks but no steps have been initiated to protect or educate consumers. The New York Times reported, “The Zelle network is operated by Early Warning Services, a company created and owned by seven banks: Bank of America, Capital One, JPMorgan Chase, PNC, Truist, U.S. Bank and Wells Fargo. Early Warning, based in Scottsdale, Ariz., manages the system’s technical infrastructure. But the 1,425 banks and credit unions that use Zelle can customize the app and add their own security settings.”
On April 27, 2022, PYMNTS.com reported in part:
The bank-to-bank money transfer service was introduced in 2017, and its relationship with some of the biggest banks in the country, including J.P. Morgan Chase, Bank of America and Wells Fargo, has helped to propel its volume to $490 billion in transactions in 2021. But as the volume of transactions rose, so did the number of scams and fraud the letter alleged, to the point that senators said in the letter than Zelle is the “preferred tool for grifters.”
According to the senators, scams and fraud are well documented, and neither Zelle nor the banks that own the parent company are doing anything to fix the problem.
Sauder Schelkopf has a nationally recognized litigation practice. The firm currently serves as court-appointed lead counsel in courts across the country. The attorneys at Sauder Schelkopf have recovered over $500 million on behalf of their clients and class members. Our firm was recognized by the Legal Intelligencer’s 2022 Professional Excellence Awards. The Legal Intelligencer’s Professional Excellence Awards honor Pennsylvania law firms and attorneys who have made a significant, positive impact on the legal profession. Our firm was named in the Litigation Departments of the Year (Specialty Area category; runner-up), an award that honors the best litigation practice in a small or mid-sized firm in Pennsylvania. This recognition was based on the firm’s 2021 litigation work and its important ongoing cases. LawDragon has recognized our attorneys in its list of the “500 Leading Plaintiff Consumer Lawyers” for 2022. This list notes: “From the opioid epidemic to toxic substances and defective products, truck accidents to wildfires and sexual abuse, these are the lawyers who stand on the front line in individual lawsuits and class actions seeking justice.” Mr. Schelkopf was named to Pennsylvania’s Best Lawyers® 2022 for Class Actions/Mass Tort Litigation. The American Lawyer named Mr. Sauder to its 2021 Northeast Trailblazers. The honor recognizes 60 lawyers who are “truly agents of change.” It “recognizes professionals in the Northeast who have moved the needle in the legal industry.” The Legal Intelligencer named Mr. Sauder and Mr. Schelkopf in its 2020 Pennsylvania Trailblazers list recognizing 31 lawyers who “have taken extra measures to contribute to positive outcomes . . . and who are truly agents of change.” The Legal highlighted the firm’s innovative work on advocacy as class counsel in large institutional sex abuse cover-ups, women’s, and children’s rights. Our attorneys have also consistently been recognized by their peers being named to Pennsylvania SuperLawyer, a distinction held by the top 5% of attorneys in Pennsylvania. Our attorneys have also been selected by the National Trial Lawyers Association as the Top 100 Trial Lawyers in Pennsylvania.
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If you have experienced a fraudulent Zelle transfer that your bank refuses to refund, please contact the lawyers at Sauder Schelkopf by completing the form on this page.