Fintech companies that are members of the American Fintech Council (AFC) have announced new measures to support customers affected by the ongoing federal government shutdown. The AFC, which represents leading fintech firms and innovative banks, detailed these efforts in a letter to House Financial Services Committee Ranking Member Maxine Waters.
Phil Goldfeder, CEO of the American Fintech Council, stated, “As the federal government shutdown continues, millions of Americans are facing serious financial uncertainty. 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.”
The AFC’s letter described a range of relief measures adopted by its members. These include extending repayment windows, offering additional grace periods, and providing flexible repayment options for those whose income has been disrupted. Some member companies have also launched targeted relief programs for federal employees, increased customer support services, and communicated publicly that customer deposits remain insured and essential services will continue without interruption.
Flex, a fintech company focused on housing affordability and stability, introduced a Federal Employee Relief Program. The program waives November membership fees for federal employees and contractors and offers hardship support and financial resources. Flex also continues to waive membership fees for active-duty military personnel.
Hayden Cole, Director of Federal Government Affairs at the American Fintech Council, said, “Our members are dedicated to putting customers first and making it easier to manage their finances throughout this challenging period. By extending repayment windows, and implementing relief programs, AFC members are helping to reduce financial strain for workers during the shutdown.”
EarnIn, another AFC member company that provides Earned Wage Access services, has assisted affected federal workers with more than 6,500 transactions since the shutdown began.
The AFC describes itself as a standards-based trade association representing major fintech firms and banks offering embedded finance solutions. Its mission is to promote a transparent and inclusive financial system through responsible innovation and sound public policy. The organization also works to increase competition in consumer finance and improve access for underserved communities.