How hard will it be for Zelle to refund defrauded customers? Hard.

How hard will it be for Zelle to refund for fraud? (Short answer: Hard.) The transfer service is reportedly building a standardized system to reimburse victims. It could take a lot of complex work to execute the plan.

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Here's more news we're covering today:

Fintech plans to double workforce, add bank partners in 2023: Houston-based Save, which lets consumers save and invest from the same account, closed on its most recent round of funding last month, led by 法国巴黎银行 and joined by Webster Bank .

Comerica explains rationale for investments in tech, new geographies: The Dallas-based company is expanding in the Southeast and the Mountain West, and overhauling its digital systems, as part of a plan that Comerica Bank executives say will pay off over a two- to five-year period.

Fed ends enforcement action against bank that laundered Iranian funds: The Federal Reserve Board terminated a 2016 agreement with the Industrial Bank of Korea and its New York branch for processing more than $1 billion in sanction-violating transactions.

How to apply for The Most Influential Women in Payments, 2023: Learn how to apply for American Banker's Most Influential Women in Payments award, which celebrates the senior executives guiding the future of the global payments industry.

Read more about bank and credit union moves:

First Foundation in Dallas fills key leadership positions. The bank looked within its own ranks to find its next chief credit officer and to fill the newly created chief banking officer position. It continues a search for its next finance chief following a spate of departures.

Skyla Credit Union expanding to California, Virginia through merger: Skyla Federal Credit Union in Charlotte, North Carolina, plans to add 9,600 members and $265 million of assets through its deal with Parsons Federal Credit Union.