PublicSquare Grateful for Closure of Politically Motivated CFPB Investigation into Credova
- Closure affirms Credova and PublicSquare's responsible and transparent operations supporting the Second Amendment
- End of this Biden-era, politically motivated investigation is a victory for freedom, for business, and for every American who refuses to yield to government overreach
PSQ Holdings, Inc. (NYSE:PSQH) ("PublicSquare" or the "Company") was pleased to receive notification from the Consumer Financial Protection Bureau ("CFPB") that it had formally closed the investigation into Credova Financial, LLC ("Credova"), a wholly owned subsidiary of PublicSquare. As the Bureau confirmed to Credova, it was closing the investigation because it "has determined that this investigation exemplifies the type of weaponization against disfavored industries and individuals that President Trump and Acting Director Vought are committed to ending," and that "the record of this investigation clearly demonstrates that it was conducted in a biased manner that targeted Credova's exercise of its constitutional rights and facilitation of others' exercise of their constitutional rights." The Bureau determined that its investigation of Credova "was not aimed at protecting consumers, but at suppressing activities protected by the First and Second Amendment."
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"The conclusion of the CFPB's investigation confirms the strength and integrity of our company and validates the trust our merchants and consumers place in us," commented Michael Seifert, Chairman and CEO of PublicSquare. "This outcome is a win for our entire company, our board, our customers, and a 2nd Amendment community that has seen years of government attempts to regulate businesses like ours out of existence. We would like to thank President Trump, Acting Director Vought, CFPB Chief Legal Officer Mark Paoletta, CFPB Senior Adviser Jeff Clark, and the CFPB staff for their internal review of this investigation and commitment to ensuring the Bureau operates free from political bias and suppression of constitutional rights. PublicSquare remains committed to scaling responsibly, delivering long-term value to our shareholders, and advancing our mission to build an economy rooted in liberty."
"For more than four years, Credova was forced to defend itself from what we always believed was a politically motivated investigation that was less about consumer protection and more about targeting lawful commerce tied to the Second Amendment," stated Dusty Wunderlich, Chief Strategy Officer & Board Member of PublicSquare and former President of Credova. "From our view, this was the most recent in a line of attempts to weaponize government against businesses that refuse to conform to a specific political agenda. We did not yield. We stood firm in defense of our mission, our merchants, and the constitutional rights of the Americans we serve. The conclusion of this investigation is a victory not just for our company, but for every business and citizen who believes that freedom must never be compromised."
Blake Masters, PublicSquare Board Member and leader in the 2nd Amendment Community, commented, "The closure of this investigation is a strong reminder that when businesses stand firm against government intimidation, freedom wins. This victory affirms that the right to commerce, like the right to self-defense, is fundamental to our liberty."
About Credova
Credova (a subsidiary of PublicSquare) was founded to fill a critical gap in the marketplace, providing modern, point-of-sale financing solutions to merchants and consumers in underserved sectors such as outdoor recreation and the firearms industry. For many merchants, Credova and PublicSquare are their only access to the kinds of financial tools that other industries take for granted.
About PublicSquare
PublicSquare is a Financial Technology Company that protects life, family, and liberty. PublicSquare operates under three segments: Financial Technology, Marketplace, and Brands. PublicSquare's Financial Technology segment includes Credova, a consumer financing service, and PSQ Payments, a "cancel-proof" payments company. The primary mission of the Marketplace segment is to help consumers "shop their values" and put purpose behind their purchases. PublicSquare leverages data and insights from the Marketplace to assess its customers' needs and provide high-quality, wholly owned financial products and brands. PublicSquare's Brands segment comprises EveryLife, a premium D2C life-affirming baby products company. The PublicSquare Marketplace is free to join for both consumers and business owners. Download the app on the App Store or Google Play, or visit PublicSquare.com to learn more.
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