NYSE:COFConsumer Finance
Capital One (COF) Faces Zelle Lawsuit As Canada Data Breach Settlement Progresses
New York Attorney General files a lawsuit alleging widespread consumer fraud on the Zelle payments network, naming Capital One Financial (NYSE:COF) as a co-owner and key shareholder.
The case centers on claims that Zelle prioritized growth over security, leading to systemic losses for customers using participating banks.
Separately, Capital One reaches a C$35 million settlement in Canada tied to a previous data breach, addressing part of its outstanding legal exposure.
Capital One...