Yea I have no idea why the original commenter thinks Banks should have the power to tell me what I can and can't do with my own money.

It's nice that Zelle has checks and identity information shown to you when you're sending money, but if I click through 5 screens that say "Yes I know this person" but I actually don't.....no amount of regulation is going to solve that.

Banks absolutely have that power and will stop transactions that seem suspicious or fraudulent already, no? Sometimes they'll call/text to verify you want it go through. I imagine that type of thing but cranked up for accounts flagged "vulnerable" where a family or the person themselves can check a box saying "yes, lockdown this account heavily please" (or whatever you can imagine, idk, I'm not a bank)