CFPB Flags Gaming Data Practices, but Younger Consumers Comfortable Sharing Data

The Consumer Financial Protection Bureau (CFPB) recently issued a report listing regulatory concerns around how gaming and virtual reality companies facilitate transactions and collect sensitive data.

As “Banking in Video Games and Virtual Worlds” makes clear, the CFPB sees both industries processing transactions and collecting the kind of information it normally associates with banking and payment systems.

“Games and virtual worlds enable players to store and transfer valuable assets...