Zelle fraud under fire as New York sues the payment app’s creators over $1 billion in scam losses. Here's what users need to know.

Zelle was sued on Wednesday by New York Attorney General Letitia James, who said the electronic payment platform's refusal to adopt critical safety features enabled fraudsters to steal more than $1 billion from consumers.

New York Attorney General Letitia James’ office picked up the lawsuit after the Consumer Financial Protection Bureau dropped a similar one in March.