Florida Dem presses CFPB to probe 'rent now, pay later' companies as housing costs climb
Bias ratings based on AllSides + Ad Fontes Media. Agreement % = sources covering this story. Always read multiple sources and think critically.
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.
Livble charges a flat fee that ranges from $30 to $50, depending on the day the user chooses to split their rent. If their balance stays unpaid for 45 days, a flat $15 late fee applies. Affirm has also launched a trial run for the service that Frost says could be taking advantage of low-income American households. “While many of these companies market their loans as ‘innovative’ products that can help struggling cash-strapped renters, including by allegedly boosting their credit scores, many of these products more closely resemble repackaged payday loans,” Frost wrote in his letter to CFPB acting Director Russell Vought obtained by The Hill.
“RNPL [rent now, pay later] products take on a variety of forms, and lenders have been found engaging in partnerships with corporate landlords to embed themselves into rental payment platforms in order to ensnare renters who might be struggling to cover their rent. For example, Livble, a fintech app purchased by RealPage in 2025 and integrated into RealPage’s platform, encourages renters to take on loans to pay their rent,” the Florida Democrat added. RealPage is a technology company that provides software for the real estate and property management industries.
Think About This
What questions does this story raise for you? Talk with your family: Why does this news matter? Who is affected? What might happen next? Is there anything you can do?
- Ask your child: “Why do you think people care about florida presses? How might this affect families like ours?”
- Compare sources: The bias rating above shows how this outlet leans. Try finding one more source that covers the same story. Do they agree? What’s different?
- Media literacy: Ask: “What facts does this story give us? What opinions does it include? Who is speaking, and why might they say this?”
KiddieDaily is built for families — balanced sources, no agenda, no ads. Always read the original source and think for yourself.
Original Sources
🔍 Want to verify this story? Check it on Google Fact Check Explorer →
More stories: Kid News · Archive · Fact Check