Protect Borrowers sent an urgent letter to the Consumer Financial Protection Bureau (CFPB) warning of the new “Bilt 2.0” credit card risks and the need for risk-based supervision for all covered parties, including Bilt and its issuer-processor Cardless.
As an appendix to the letter, Protect Borrowers also published a catalog of more than 75 public reviews related to Bilt’s transition to Bilt 2.0. Protect Borrowers used AI analytics tools to locate and evaluate these public reviews of Bilt. The testimonials showcase issues with missed rent and mortgage payments resulting in late fees, and outrage with the company’s AI customer service agents.
Read the Letter: Risk-based Supervision of Bilt Technologies, Inc. and Certain Related Parties
Download the Complaint Catalog: Appendix A Bilt 2.0 Transition Complaints
Read the Press Release: Following Reports of “Bilt Card 2.0” Meltdown, Advocates Call on the Trump CFPB to Protect Borrowers, Warn Congress of Risks to Renters