Florida Congressman Requests CFPB Probe into 'Rent Now, Pay Later' Plans

Democratic Rep. Maxwell Frost (Fla.), the youngest member of Congress, has called on the Consumer Financial Protection Bureau (CFPB) to investigate companies offering “rent now, pay later” services amid surging housing costs nationwide. In a letter dated Wednesday, Frost requested the CFPB examine financial firms such as Flex and Livble, which provide tenants with the ability to pay rent in installments or defer payments. Frost highlighted concerns that these services could exacerbate financial instability for renters, particularly as housing affordability worsens, and questioned whether the companies’ practices comply with consumer protection laws.

The letter outlines how Flex and Livble facilitate rent payments by allowing users to split payments into monthly installments or delay them, often with fees or interest charges. Frost argued that such services may exploit vulnerable tenants facing housing insecurity, potentially leading to predatory lending or hidden costs. He emphasized the need for transparency in terms and conditions, warning that unregulated “rent now, pay later” models could deepen economic hardship during a period when 42% of U.S