The Protecting Consumers From Payment Scams Act amends federal law to treat scams involving tricked consumers (fraudulently induced transfers) the same as unauthorized transfers made by thieves or scammers. Currently, consumers have strong protections against unauthorized transfers, but less protection when they are manipulated into sending money themselves. This bill extends those consumer protections to fraud victims, limiting their financial responsibility for transfers they made under false pretenses. The law also establishes shared liability between banks, meaning the bank holding the victim's account and the bank receiving the fraudulent transfer would split the losses rather than placing the burden entirely on consumers or one institution. The legislation directs the Consumer Financial Protection Bureau to create rules implementing these protections and clarifying which financial institutions must share liability in these situations.