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.

The lawsuit alleges that Early Warning Services, Zelle's parent, failed to implement safeguards, enabling fraudsters to steal more than $1 billion.