Fri Dec 20 03:57:14 UTC 2024: ## MrBeast’s New Show Partners with Fintech Firm, Raising Consumer Concerns

**NEW YORK (AP)** — YouTube megastar MrBeast’s new reality show, “Beast Games,” which premiered on Prime Video Thursday, is facing scrutiny over its partnership with the fintech company MoneyLion. The show, featuring 1,000 contestants competing for a record-breaking $5 million prize, includes a sweepstakes offering viewers a chance to win their own cash prizes, promoted via a QR code linked to MoneyLion’s app.

While MrBeast frames the partnership as a way to give back to his fans and introduce them to MoneyLion’s financial tools, consumer advocates are raising concerns. They argue that MoneyLion’s “cash advances,” which are also promoted to sweepstakes entrants, function as high-cost payday loans that can trap users in debt cycles. The concern is particularly acute given MrBeast’s young audience, who may be less financially savvy and more susceptible to the marketing.

Lauren Saunders of the National Consumer Law Center noted that such loans can lead to a cycle of borrowing, where users repeatedly take out loans to repay previous ones, ultimately hindering their financial goals. Andrew Kushner of the Center for Responsible Lending echoed this concern, pointing to research showing increased overdrafts and frequent borrowing among users of similar apps. A past lawsuit against MoneyLion also alleges misleading practices regarding membership cancellations.

MoneyLion, however, defends its partnership, stating that its products promote long-term financial health and stability. The company emphasizes that the sweepstakes is targeted to those 18 and older and that its fees are clearly disclosed. They also highlight the educational aspect of introducing users to a variety of financial tools.

MrBeast’s representatives declined to comment on the controversy. “Beast Games,” which involves elaborate physical and mental challenges, marks MrBeast’s foray into television and follows a year of increased scrutiny regarding his past content, philanthropic efforts, and workplace practices. The show’s massive scale and the size of the prize money are unprecedented in reality television. The partnership, however, highlights the potential risks of collaborations between influencers and financial services companies, particularly when targeting younger demographics.

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