Product: Money transfer, virtual currency, or money service

I am writing to formally express my concerns regarding zelles handling of disputes, particularly in light of the recent CFPB lawsuit highlighting significant issues with the platform. Despite using Zelle numerous times and reporting discrepancies, my financial institution and Zelle failed to investigate my claims adequately. They informed me that recovering lost funds was impossible, and tracking these transactions was unfeasible. The CFPB findings indicate that Zelle has not only neglected to protect consumers but has allowed repeat offenders to exploit the system, leaving users vulnerable to scams. This lack of accountability and transparency is unacceptable and raises serious concerns about consumer safety. 

While in XXXX on XX/XX/XXXX, I sent money via Zelle to my friend XXXX XXXX using the XXXX XXXX banking app. I received a confirmation message that the money was sent to XXXX, but XXXX never received the money. When we got back to Texas on XX/XX/XXXX I reached out to my bank, XXXX XXXX, asking for clarification on the issue. The banker went through all of XXXX contact information to confirm it was her and the banker confirmed it was sent to the correct person and told me to give 10 business days to reach a verdict as the issue was sent to a supervisor. On XX/XX/XXXX. I received a letter in the mail stating my claim was denied as the money was correctly sent to XXXX. XXXX never received the money and XXXX has never received the money to this day. I was bounced back-and-forth between XXXX XXXX and Zelle XXXX as both institutions refused to accept any sort of accountability and claim that I knowingly sent money to the wrong person. On XX/XX/XXXX, I formally requested the documents used in the investigation with XXXX XXXX to be sent to me. After glancing over the documentation, I noticed that XXXX XXXX phone number, or token ID, is the exact same as XXXX phone number, or token ID. When in fact, XXXX phone number is one digit different than XXXX XXXX. Even after highlighting the issues on the documentation provided by XXXX XXXX, my claim was denied, per XXXX in the XXXX office, I purposely and intentionally keyed in XXXX number incorrectly and knowingly sent money to XXXX XXXX, someone Ive never met. I have provided the documents that XXXX XXXX sent to me as well as XXXX XXXX contact number as that is what Zelle uses as a token ID. these documents provided by XXXX XXXX also show that I have sent money to XXXX XXXX going back as far as XX/XX/XXXX, although anytime I have sent money to XXXX. I have always received a confirmation message from Zelle that I sent money to XXXX XXXX. Since XXXX XXXX phone number was listed on the documentation I made contact with XXXX XXXX who confirmed he received the money but was not interested in giving it back. He was concerned that someone he has never met before now has his phone number and knows who he is because I entered his information into XXXX. I was able to confirm XXXX XXXX address and where he is currently listed in college just by XXXX XXXX providing his phone number. I have provided the documentation and screenshots of detailed notes on all phone conversations with employees names, dates, and times included.