Zelle's safety - 99.95%

What we’ll cover today:

💸 Zelle sued over $1B in alleged scam losses

🏦 Trump’s Fed Chair sweepstakes heats up

📅 Upcoming finance events to watch

Zelle Sued for $1B Fraud Failures 💸

New York’s Attorney General Letitia James is suing Zelle’s parent company, Early Warning Services, for letting scammers steal $1B from users.

🚨Breaking News:
From 2017 to 2023, Zelle allegedly skipped basic safety checks, making it an easy playground for fraudsters, says James.

⚡Wire Simplified –

• Zelle is a popular money transfer app owned by Early Warning Services.

• NY Attorney General says Zelle lacked safety features from the start.

• Fraud losses allegedly crossed $1 billion over six years.

• Zelle calls the lawsuit a “political stunt” and says 99.95% of transactions are safe.

• The CFPB filed and later dropped a similar lawsuit earlier this year.

✔️Straight to the Point –
Zelle’s in legal hot water. NY wants stricter safeguards, while Zelle says fraud is rare. The fight could change P2P payments forever.

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Trump’s Fed Chair Reality Show 🎬

President Trump is eyeing 11 contenders for the next Fed Chair role, and betting markets are loving the drama.

🚨Breaking News:
Prediction market Kalshi says Jefferies strategist David Zervos’ odds to replace Jerome Powell jumped to 15% this week.

⚡Wire Simplified –

• Fed Chair Jerome Powell’s term ends in May 2026.

• Trump is reportedly considering 11 candidates, including Zervos, Larry Lindsey, and Rick Rieder.

• Chris Waller leads with 31% odds, Kevin Hassett at 20%, Zervos and Kevin Warsh tied at 15%.

• “The Kevins” got a boost after Trump called them “very good” on TV.

• Waller favors forecasting-based policy changes, not just reacting to current data.

✔️Straight to the Point –
Trump’s Fed shortlist is turning into a market betting game. Whether it’s Waller, Zervos, or “The Kevins,” rate policy could shift fast.

Canada FinTech Forum 2025
This event is the largest FinTech gathering in Canada, bringing together key players from the finance and technology sectors.
Date: October 2025 | Location: Montreal, Canada

Book your seat here

Hong Kong FinTech Week 2025
One of Asia’s premier FinTech events, featuring speakers, panels, and exhibitors showcasing innovations in finance and technology.
Date: November 2025 | Location: Hong Kong

Book your seat here