CFPB to push banks to cover up more payment services scams

WASHINGTON — The Consumer Financial Protection Bureau is preparing to urge banks to reimburse more customers who were victims of alleged scams on Zelle and other money transfer services, according to people familiar with the upcoming regulatory effort.

According to new guidelines the bureau is set to release in the coming weeks, banks could face increased demands on certain scams that have become more prevalent on these platforms, these people said, such as when a customer is tricked into sending money to a scammer pretending to be a representative of his bank.