WELLS FARGO & CO (WFC)

"Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. In the federal civil complaint, the Consumer Financial Protection Bureau asserts that the banks rushed to get the peer-to-peer payments platform to market without effective safeguards against fraud and then, after consumers complained about being defrauded on the service, largely denied them relief. The CFPB claims that the banks violated federal consumer financial laws governing electric funds transfers, which require banks conduct “reasonable investigations” when consumers report transaction errors, and the agency's prohibition on unfair acts or practices by failing to take steps to prevent and address fraud on Zelle.

The US Consumer Financial Protection Bureau sued JPMorgan Chase (JPM), Bank of America (BAC), and We

GOP officials have been cracking down on companies they view as climate-friendly.

Lawsuit is part of CFPB’s aggressive agenda in reported bid to advance protections before Trump overhauls agency

The bank has ended its membership in the Net-Zero Banking Alliance, a spokesperson said on Friday, two weeks after another notable exit by Goldman Sachs. Financial firms, which have long been criticized for their ties to the fossil fuel industry, have tried to integrate net-zero standards more prominently into their operations. Last month, asset management giants BlackRock, Vanguard and State Street were accused of violating antitrust law through climate activism in a lawsuit by Texas and 10 other Republican-led states.