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
4/16/2024
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Marketplace ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Financial Transactions ,
Fraud ,
Risk Assessment ,
Social Media ,
Third-Party ,
Unfair or Deceptive Trade Practices ,
Video Games ,
Virtual Reality
On January 9, the California Department of Financial Protection and Innovation (DFPI) issued an order against a consumer financing platform that enables merchants to offer installment contracts to their customers. The...more
1/29/2024
/ Banking Sector ,
California ,
California Consumer Financial Protection Law (CCFPL) ,
Consumer Financial Products ,
Department of Financial Protection and Innovation (DFPI) ,
Disclosure ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
Hidden Fees ,
New Regulations
On January 2, New York Governor Kathy Hochul announced a proposal to establish regulations for the “Buy Now Pay Later” (BNPL) loan industry.
Gov. Hochul announced that she will propose legislation to require BNPL providers...more
The Consumer Financial Protection Bureau (CFPB) published a proposed rule on November 7, 2023, that, if finalized, would subject to its supervisory authority certain Big Tech firms and other nonbank companies operating in the...more