“The American Fintech Council applauds the California Assembly’s efforts to advance a transparent regulatory framework for flexible rent payment services through AB 2350. Assemblymember McKinnor’s collaborative approach reflects a shared commitment to strong and thoughtful consumer protections while providing greater clarity for responsible providers.

“Flexible rent payment services help renters better align their housing costs with their income schedules by breaking rent into smaller, more manageable payments. For many households, these tools provide critical short-term liquidity, reduce the risk of missed payments, and support greater financial stability.

“This legislation takes a pragmatic step forward by recognizing the distinct nature of flexible rent payment services and establishing clear guardrails around disclosures, fees, and consumer protections. This approach aligns with AFC’s longstanding advocacy for a modern regulatory framework that promotes transparency, ensures strong consumer protections, and allows responsible innovation to thrive.”

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