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July 2, 2026

Democratic congressman asks the CFPB to investigate ‘rent now, pay later' companies

By KEN SWEET
AP Business Writer

NEW YORK — A Democratic member of Congress is calling for the federal government to investigate the growing “rent now, pay later” industry, saying Americans may not understand the fees and cost structure of these products as the services become more widely available.

Rep. Maxwell Frost, D-Florida, sent a letter to Consumer Financial Protection Bureau Acting Director Russell Vought urging the bureau to investigate rent now, pay later companies and hold them accountable for potential violations of federal consumer financial protection laws. In the letter, obtained by The Associated Press, Frost also asked the bureau to explain what it is doing to protect renters and whether landlords are steering tenants toward rent-financing products.


 
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