Flexible Finance, Inc., the company behind Flex Rent, announces it has applied to establish a new Utah state-chartered industrial bank named Flex Bank. The company says it submitted applications to the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) on July 24. Flexible Finance describes the proposed bank subsidiary as part of its plans to expand and support its flexible rent payments solution, Flex Rent. The filings are intended to obtain the necessary approvals to create the bank, which would operate under Utah’s industrial bank framework and be subject to oversight from the FDIC and Utah regulators. While the company positions the charter as a way to scale its rent payment offering, neither outlet provides additional details on the bank’s structure, timelines for approval, or specific operational plans beyond the general purpose. The announcements emphasize the regulatory application process and the intent to pursue a Utah industrial bank charter as a pathway to support the company’s payment services.
Flexibility Finance applies for Utah industrial bank charter with FDIC and Utah regulators
Flexible Finance, Inc., the company behind Flex Rent, announces it has applied to establish a new Utah state-chartered industrial bank named Flex Bank. The company says it submitted applications to th...
- Flexible Finance, Inc. applies to create a Utah state-chartered industrial bank called Flex Bank.
- The company submits applications to the FDIC and the Utah Department of Financial Institutions (UDFI).
- The announcement is dated July 24, 2026.
- Flexible Finance’s Flex Bank proposal is linked to scaling its Flex Rent flexible rent payments solution.
- Both outlets report the charter applications are part of the company’s regulatory process to establish the bank.
Flexible Finance aims to secure a Utah industrial bank charter to support its flexible rent payments solution Flex Rent. The company has submitted applications to the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) to charter a Utah state-chartered industrial bank called Flex Bank, it said in a Friday (July 24) press release. Flex Bank would […] The post Flex Seeks Bank Charter to Scale Flexible Rent Payments appeared first on PYMNTS.com.
4 hours agoNEW YORK, July 24, 2026 (GLOBE NEWSWIRE) — Flexible Finance, Inc. (“Flex”), the financial technology company behind Flex Rent, today announced it has submitted applications to the Federal Deposit Insurance Corporation (“FDIC”) and the Utah Department of Financial Institutions (“UDFI”) to charter Flex Bank, a Utah state-chartered industrial bank. The proposed bank subsidiary would give […]
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