New York’s attorney general has sued the parent company of the Zelle payment platform, months after the federal Consumer Financial Protection Bureau abandoned a similar case under the Trump administration.

New York Attorney General Letitia James on Wednesday sued Early Warning Services (EWS), which operates Zelle, alleging the electronic money-transfer service fails to protect its users from “massive amounts of fraud.

New York Attorney General Letitia James says the company, co-owned by major U.S. banks, failed to protect users. The company calls the suit "a political stunt."