Bank of America down after co in talks with regulator to resolve Zelle probe
** Shares of second-largest U.S. lender Bank of America BAC.N down 3% at $41.23 premarket
** BAC on Tuesday said it was evaluating potential litigation over an inquiry into the bank's processing of funds through the Zelle payment app
** The Consumer Financial Protection Bureau (CFPB) staff has initiated discussions with the bank to pursue a resolution of the inquiry or to file an enforcement action
** The increase of fraud and scams on Zelle has attracted attention from several U.S. lawmakers
** In August, JPMorgan said it was mulling whether to sue the CFPB over inquires over Zelle. Wells Fargo has also previously disclosed probe from regulators
** BAC stock is up 26.3% YTD
Reporting by Jaiveer Singh Shekhawat in Bengaluru
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