Flex Files for Utah Industrial Bank Charter with FDIC

On Jul 24, 2026, Flexible Finance, Inc. ("Flex") announced it has submitted applications to the FDIC and the Utah Department of Financial Institutions to charter Flex Bank as a Utah state-chartered industrial bank. The proposed bank subsidiary would give Flex an FDIC-insured institution to support its products and services. Flex is the fintech company behind Flex Rent, a product used by more than 3.2 million renters nationwide.

Since 2019, Flex has processed more than $40 billion in rent payments. The company says renters using Flex Rent incur fewer late fees and see reduced reliance on payday loans and other high-cost credit. Flex for Good, an independent 501(c)(3) nonprofit funded by Flex, has provided more than $1 million in direct rental assistance to more than 800 households.