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A comment on Can the Visa-Mastercard duopoly be broken?. Parent comment

Re:Can the Visa-Mastercard duopoly be broken? by hnburnsy on Thursday August 18, 2022 @10:51AM (#32510487)
>Zelle is a United States–based digital payments network owned by Early Warning Services, LLC, a private financial services company owned by the banks Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo.

So it is owned by the banks, but the banks that own and offer it don't give any protections.

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Re:Can the Visa-Mastercard duopoly be broken? by snotrockets on Thursday August 18, 2022 @03:49PM (#32514074)
It is governed by regulation E (https://www.federalreserve.gov/supervisionreg/regecg.htm), and Zelle admits as much on their website (https://www.zellepay.com/financial-education/pay-it-safe/und...).

They do try very hard to suggest this doesn't apply. This isn't true in practice, but I'm certain many would give up without trying.

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Re:Can the Visa-Mastercard duopoly be broken? by moate on Thursday August 18, 2022 @01:39PM (#32512648)
It's almost like that's the point. A lot of tech solutions just seem like ways of offloading liability or skirting regulation in a traditional market.
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