Fintech leaders implement relief measures and expand support to help affected customers maintain financial stability

Washington, D.C. (October 14, 2025) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, responded to House Financial Services Committee Ranking Member Maxine Waters outlining the actions AFC members are taking to support consumers impacted by the ongoing federal government shutdown. The letter emphasizes the industry’s shared commitment to consumer protection and financial stability during a period of significant disruption for federal employees, contractors, and service members.

“As the federal government shutdown continues, millions of Americans are facing serious financial uncertainty,” said Phil Goldfeder, CEO of the American Fintech Council. “Across our membership, responsible fintech companies are taking proactive steps to ease the financial burden on their impacted customers. At AFC, we remain committed to working closely with regulators, policymakers, and stakeholders to support American workers throughout this continued shutdown.”

In its letter, AFC noted that many members have already implemented a variety of consumer relief measures, including extending repayment windows, providing additional grace periods, and offering repayment flexibility to those experiencing income disruption. Several members are also implementing relief programs for federal employees, expanding customer support channels, and issuing clear public communications to reassure customers that deposits remain insured and essential services will continue uninterrupted.

One example of such relief includes Flex, a responsible fintech company focused on improving housing affordability, stability, and financial health by helping renters align rent payments with income, avoid costly fees, and stay current during periods of financial disruption, which launched a Federal Employee Relief Program waiving November membership fees for federal employees and contractors, offering hardship support and financial resources to impacted users, and continuing to waive membership fees for active-duty military members for as long as they serve.

“Our members are dedicated to putting customers first and making it easier to manage their finances throughout this challenging period,” said Hayden Cole, Director of Federal Government Affairs at the American Fintech Council. “By extending repayment windows, and implementing relief programs, AFC members are helping to reduce financial strain for workers during the shutdown.”

Another AFC member company supporting impacted federal workers includes EarnIn, a responsible Earned Wage Access (EWA) provider that has already provided assistance with more than 6,500 transactions from their customers affected by the shutdown.

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

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