Laura VanDruff Quoted in Bloomberg Law on Teen Privacy

Partner Laura Riposo VanDruff was quoted by Bloomberg Law in their article ​“Celebrity-Backed Financial Tools for Teens Spur Federal Scrutiny.” The article covers new financial technology products targeted toward younger users, including a product owned by internet celebrity Jimmy Donaldson, or MrBeast, which says it aims to build financial skills in teens. While there are no Consumer Financial Protection Bureau enforcement actions against MrBeast’s company, Step, the FTC has demonstrated interest in fintech’s targeting of teens.

“The FTC could look at how fintech’s practices may be perceived by teens as ​“reasonable” consumers, a benchmark under Section 5 of the FTC Act used to determine whether a business practice is deceptive”, said Laura.

Read the full article here.