Helping Renters and Landlords Struggling With Financial Hardship
Jul 28, 2021

Corporate

Franz Paasche | SVP, Chief Corporate Affairs Officer

As the U.S. moves through the next phase of the Covid-19 pandemic, the economic pain inflicted by the pandemic is still being felt by many families and businesses across the U.S. A recent Census Bureau survey showed some 7.4 million people reported being behind on their rent.

Fortunately, there’s help available. The American Rescue Plan provides billions of dollars in assistance to state and local programs for both renters and landlords.

From a group of friends renting an apartment together after college and splitting bills on Venmo to a retiree using PayPal to collect rent to make a living, we know that many of our customers use and rely on PayPal and Venmo to pay and receive rent checks every month. That’s why we want to make sure our customers know about all the relief available to them.

The Consumer Financial Protection Bureau (CFPB) today unveiled a new tool, the Rental Assistance Finder, to help renters and landlords find and apply for rental assistance. The site also includes resources to help people manage the financial challenges from the pandemic.

Taking advantage of programs like these can help prevent evictions and keep families and individuals from falling deeper into financial distress. To find additional information, please visit www.consumerfinance.gov/renthelp.

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