The U.S. Senate Committee on Banking, Housing and Urban Affairs published a letter in which Ranking Member Senator Elizabeth Warren asked Bilt Rewards chief executive Ankur Jain to explain reported transaction and payment problems during Bilt's transition between bank partners. The letter cites customer reports that rent or mortgage payments were rejected, returned, delayed or never reached landlords or lenders, and that some users were unable to pay balances still held at Wells Fargo or saw those balances moved to new cards without authorization. Warren asked Bilt to address reports that customers lost access to rent or mortgage funds, explain its new partnership with Evolve Bank in light of a 2024 scandal involving nearly USD 100 million in lost customer funds, and clarify whether Bilt 2.0's immediate debiting of rent payments complies with the Credit CARD Act of 2009. She also questioned whether Bilt's use of an AI chatbot has made customer support inaccessible. In the release, Warren argued that the Consumer Financial Protection Bureau would otherwise have been responsible for addressing the reported harms. The letter requests written responses by June 9, 2026 on the steps Bilt has taken and will take to protect consumers.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-05-28
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member presses Bilt Rewards over reported payment disruptions
The U.S. Senate Committee on Banking, Housing and Urban Affairs published a letter in which Ranking Member Senator Elizabeth Warren pressed Bilt Rewards to explain reported transaction and payment problems during its transition between bank partners. Warren requested information on rejected or delayed rent and mortgage payments, the shift of balances from Wells Fargo, Bilt’s new partnership with Evolve Bank, compliance of Bilt 2.0’s immediate debiting with the Credit CARD Act of 2009, and the impact of Bilt’s AI chatbot on customer service.