Overview (Program Summary)
Cooley partners Michelle Rogers and Teresa Michaud will discuss the Consumer Financial Protection Bureau (CFPB)’s 2024 report which examined the growth and privacy risks of financial transactions in online video games and virtual worlds, and the increasing litigation risk in this space. Regulators, including the CFPB, are sharpening their focus on the ways gaming services can resemble traditional financial products, with particular focus on the compliance management controls and infrastructure (or lack thereof) applicable to online transactions in nontraditional marketplaces. This presentation will cover the key findings profiled in the report, the increasing litigation activity in this space, and how this impacts the industry.
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