Florida Dem presses CFPB to probe 'rent now, pay later' companies as housing costs climb
Key takeaways
- Link copied by Ashleigh Fields - 07/01/26 4:59 PM ET Link copied NOW PLAYING Democratic Rep.
- Financial services Flex and Livble have offered users the option of paying tenants rent up front while splitting the cost into two or more installments with added interest.
- Flex charges a monthly subscription for access to its services, in addition to 1 percent of the total rent.
Why this matters: political developments that affect policy direction and public trust.
Link copied by Ashleigh Fields - 07/01/26 4:59 PM ET Link copied NOW PLAYING Democratic Rep. Maxwell Frost (Fla.), the youngest member of Congress, wrote a Wednesday letter urging the Consumer Financial Protection Bureau (CFPB) to investigate companies offering rent now, pay later plans for tenants across the country as housing costs rise nationwide.
Financial services Flex and Livble have offered users the option of paying tenants rent up front while splitting the cost into two or more installments with added interest.
Flex charges a monthly subscription for access to its services, in addition to 1 percent of the total rent. Its users have a median credit score of 604 and work more than one job to make ends meet, the company previously told The Associated Press.