News & Analysis as of

Gaming Consumer Financial Protection Bureau (CFPB)

Sheppard Mullin Richter & Hampton LLP

Regulators Ramp up Scrutiny of Games’ Business Models

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

Ballard Spahr LLP on

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

Hudson Cook, LLP

Data Protection and Privacy Concerns for the Gaming Industry

Hudson Cook, LLP on

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

"That's Unfair!" Navigating CFPB Scrutiny and Consumer Protection Challenges in the Gaming Industry

Hudson Cook, LLP on

The gaming industry has seen exponential growth over the past twenty years, transforming from a niche hobby into a mainstream cultural and economic juggernaut....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

Hudson Cook, LLP

"OVER THE LINE!"  Where Banking and Gaming Intersect, the CFPB Has Something to Say.

Hudson Cook, LLP on

The line between virtual and reality is getting thinner. Gamers pay gaming companies real currency for virtual in-game currency to buy skins, create the world they want to live in (virtually), or purchase loot that aid in...more

Cooley LLP

CFPB Highlights Financial, Privacy Risks of Consumer Transactions on Gaming Platforms

Cooley LLP on

On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report examining the growth and privacy risks of financial transactions in online video games and virtual worlds, noting that Americans spent...more

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