Credova Calls Out Major Credit Card Companies and Vows to Protect Consumer Privacy and Rights

Rhea-AI Summary

Credova, a BNPL provider and subsidiary of PSQ Holdings, stands against major credit card companies prioritizing regulatory compliance over consumer rights. They condemn the violation of constitutional freedoms and advocate for privacy-centric financial solutions.

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Negative

• Major credit card companies prioritize regulatory compliance over consumer rights, potentially violating constitutional freedoms.
• California law mandates tracking and coding of firearm transactions by payment card networks, a move opposed by Credova.
• Financial service providers are shifting towards compliance with overreaching regulations, compromising consumer privacy and free commerce.

Amidst a worrying trend of prioritizing ‘regulatory compliance’ over individual liberty by major credit card companies, Credova reaffirms its commitment to safeguarding constitutional freedoms and developing privacy-centric financial solutions.

BOZEMAN, Mont.--(BUSINESS WIRE)-- Credova—a leading Buy Now, Pay Later (BNPL) provider in the outdoor recreation and firearms sector and a wholly owned subsidiary of PSQ Holdings, Inc. (NYSE: PSQH) (“PublicSquare”) a leading marketplace of patriotic businesses and consumers — is speaking out against the willingness of major credit card companies to comply and so blatantly violate consumer sovereignty. California recently passed a controversial law that mandates the tracking and coding of firearm transactions by payment card networks. Last month, these companies confirmed their intention to meet the May 2025 deadline for implementing the required codes. Credova condemns these flagrant violations of consumer’s constitutional rights in the strongest possible terms.

Historically, financial service providers have resisted such overreach, holding sacred their obligation to safeguard consumer privacy and the principles of free commerce. The recent shift by the major credit card companies represents an alarming willingness to become active participants and enforcers of practices that undermine fundamental American liberties, including the right to privacy, the Fourth Amendment, and certainly the Second Amendment.

Dusty Wunderlich, President of Credova, expressed strong opposition to this development, stating, "These financial behemoths’ ready embrace of California AB 1587 demonstrates a disturbing trend of capitulation to regulatory overreach. This is a clear violation of the trust that consumers place in these companies to protect their rights. At Credova, we condemn these acts of cowardice and remain unwavering in our mission to continue developing financial technology solutions that uphold individual privacy and constitutional freedoms, without apology. We call on all major financial companies to put the protection of our founding principles over politics, and never waiver from the commitment to consumer sovereignty."

Founded on the premise of supporting secure, private financial transactions, Credova is resolute in its mission to empower Americans to make purchases without compromising their rights. In contrast to the actions of the major credit card companies, Credova offers solutions that respect and protect individual liberty, reinforcing its stance as a defender of constitutional rights in the financial sector.

About Credova

Credova, a wholly-owned subsidiary of PublicSquare, is a leading BNPL platform that offers flexible payment options, promoting financial accessibility and growth for merchants. With a specialization in the outdoor recreation and firearms industries, Credova is committed to supporting Americans' constitutional rights through secure, private financial transactions. Learn more by visiting Credova.com.

About PublicSquare

PublicSquare is an app and website that connects patriotic Americans to high-quality businesses that share their values, both online and in their local communities. The primary mission of the platform is to help consumers “shop their values” and put purpose behind their purchases. In just over one and a half years since its nationwide launch, PublicSquare has seen tremendous growth and proven to the nation that the parallel, “patriotic” economy can be a major force in commerce. The platform has over 75,000 businesses from a variety of different industries and over 1.6 million consumer members. Additionally, PublicSquare leverages data and insights from the platform to assess its members’ needs and provide wholly-owned quality financing products, such as Credova, D2C products, such as EveryLife diapers and wipes, and B2B products, such as PSQLink, to fill those needs. PublicSquare is free to join for both consumers and business owners alike, and to learn more, download the app on the App Store or Google Play, or visit PublicSquare.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240322233065/en/

pr@publicsq.com

Source: PSQ Holdings, Inc.

FAQ

What is Credova's stance on major credit card companies' prioritization of regulatory compliance?

Credova opposes major credit card companies' focus on regulatory compliance over consumer rights and advocates for privacy-centric financial solutions.

What controversial law did California recently pass regarding firearm transactions by payment card networks?

California passed a law mandating the tracking and coding of firearm transactions by payment card networks, a move opposed by Credova.

Who is the President of Credova and what is his stance on major credit card companies' actions?

Dusty Wunderlich, President of Credova, strongly opposes major credit card companies' compliance with overreaching regulations, condemning it as a violation of consumer trust and rights.

How does Credova differentiate itself from major credit card companies in terms of consumer rights protection?

Credova offers solutions that prioritize and protect individual liberty, contrasting with major credit card companies' actions that potentially compromise consumer rights.

What is Credova's mission in the financial sector?

Credova aims to empower Americans to make secure, private purchases without compromising their constitutional rights, emphasizing consumer sovereignty and privacy.