Congressman Frost Demands Rent Now Pay Later Oversight | Roanoke News

Congressman Maxwell Frost is sounding the alarm on “rent now, pay later” services, urging the Consumer Financial Protection Bureau to investigate whether these companies are hiding fees and exploiting vulnerable renters. Drawing from his own painful experience with debt from similar services, Frost warns that many young Americans are falling into financial traps disguised as helpful tools. With fees that can balloon to $50 a month and business models eerily similar to payday loans, he’s calling for transparency and regulation — or else he’ll push new legislation next year. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f8e01145d2b86f5d