News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Video Games

Hudson Cook, LLP

Pay to Play? CFPB Warns Consumers about Risks of Video Game Currency and In-Game Purchases

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The Consumer Financial Protection Bureau (CFPB) has turned its attention to in-game currencies and purchases (commonly referred to as "microtransactions or "downloadable content"). On August 28, 2024, the CFPB followed up its...more

Saul Ewing LLP

The Consumer Financial Protection Bureau vs. the Video Game Industry

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In this episode of “Lawyers With Game,” host Darius Gambino from Saul Ewing’s Video Gaming & Esports Practice chats with partner Jason McElroy from Saul’s Consumer Financial Services Litigation practice. They discuss a recent...more

Sheppard Mullin Richter & Hampton LLP

The CFPB Continues to Reshape Consumer Protection in the Digital Arena 

On August 28, the CFPB issued a Consumer Advisory warning that it believes video game companies are targeting children for monetary gain. With 45.7 million U.S. children engaged in video gameplay, the agency is concerned...more

Ballard Spahr LLP

CFPB Again Taking on Gaming Industry

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On August 28, 2024, the CFPB issued a consumer advisory warning that many video games and “virtual worlds” increasingly resemble traditional banking and payment systems that allow the storage and exchange of billions of...more

Wiley Rein LLP

Wiley Consumer Protection Download (September 4, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Orrick, Herrington & Sutcliffe LLP

CFPB Envisions Increased Scrutiny of Video Game Financial Transactions and Data Practices

For the first time, the Consumer Financial Protection Bureau (CFPB) has publicly expressed interest in regulating video game companies for financial transactions they offer and consumer data they collect....more

Hudson Cook, LLP

Mo Data, Mo Problems: Data Protection and Privacy Concerns for the Gaming Industry

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The Consumer Financial Protection Bureau's (CFPB) eyes are on the gaming industry and the potential harm consumers may suffer from data security and privacy concerns....more

Hudson Cook, LLP

Feeding the Loot Box Monster: The CFPB's Concerns with Payment Transmission in Gaming

Hudson Cook, LLP on

On May 9, 2024, we published our first article in a series of articles on the CFPB's interest in gaming. Back on April 4, 2024, the Consumer Financial Protection Bureau ("CFPB") issued a report identifying various risks to...more

Ballard Spahr LLP

CFPB report on banking in video games and virtual worlds

Ballard Spahr LLP on

On April 4, 2024, the CFPB issued a report examining the growth of financial transactions in online video games and virtual worlds. The report, titled “Banking in Video Games and Virtual Worlds,” highlights the growth and...more

Hudson Cook, LLP

CFPB Bites of the Month - April 2024 - Won't Get Fooled Again, CFPB

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In this month's article, we share some of our top "bites" covered during the April 2024 webinar....more

Morgan Lewis

CFPB Identifies Significant Financial and Privacy Risks in Video Gaming Marketplaces

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The Consumer Financial Protection Bureau (CFPB) recently released a comprehensive report detailing growing financial transactions within video gaming and virtual worlds, which increasingly mimic traditional monetary systems....more

Husch Blackwell LLP

CFPB Levels Up: Consumer Risks in Gaming Draws Regulatory Scrutiny

Husch Blackwell LLP on

If you thought virtual reality was free from real-world regulations, think again. On April 4, 2024, the CFPB released an Issue Spotlight that dives deeply into a realm the agency had not previously traversed—video games and...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 16, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Perkins Coie

CFPB Issues New Report Examining Financial and Privacy Risks to Consumers in Video Gaming Marketplaces: What Now?

Perkins Coie on

On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new report, titled “Banking in Video Games and Virtual Worlds” (Report), that examines the growth of financial transactions in online video games and...more

Cozen O'Connor

The State AG Report – 4.11.2024

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •CFPB Not Playing Games with Financial and Privacy Risks - ...more

Morrison & Foerster LLP

CFPB Issues Report on Risks Posed by Video Game Marketplaces

On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report on “Banking in video games and virtual worlds” (Report). The Report focuses on the movement of money in virtual worlds and how gamer data is...more

Cozen O'Connor

CFPB Not Playing Games with Financial and Privacy Risks

Cozen O'Connor on

The CFPB issued a report regarding the increase in financial transactions taking place online in video games and virtual reality platforms and the alleged concurrent lack of protections against financial scams or theft on...more

Saul Ewing LLP

Is Your Video Game Account a Bank Account? The CFPB Thinks So.

Saul Ewing LLP on

Mark April 4, 2024 in your calendar – it is the day that the Consumer Financial Protection Bureau (CFPB) set its sights on the video game industry. The CFPB issued a Report this week entitled "Banking in video game and...more

Klein Moynihan Turco LLP

CFPB Targeting Gaming Industry?

On April 4, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a report (the “Report”) examining the potential risk to consumer assets and data in the online video game and virtual world spaces. The CFPB gaming...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Regional lenders BB&T and SunTrust have announced plans to “unite in an all-stock deal” that would value the combined bank at $66 billion. The new lender would be the sixth-largest in the US, and, if allowed, would be created...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

A recap of Friday’s GDP numbers, which featured both a strong 3.5% growth rate and early signs that “the growth could cool in coming months”...more

Ballard Spahr LLP

To (Dis)Close for Comfort–FTC Workshop Seeks Effective Consumer Disclosures

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A goal of providing effective disclosures to consumers is to allow consumers to make informed decisions. But what must be done to make disclosures effective? This was the question the Federal Trade Commission (FTC) explored...more

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