Consumer watchdog ends investigation into buy now, pay later company linked to Donald Trump Jr.
WASHINGTON (AP) — The Consumer Financial Protection Bureau has dropped an investigation into a buy now, pay later company with close ties to President Donald Trump’s son Donald Trump Jr., saying the investigation was conducted in a biased manner and based off politics.
The CFPB on Tuesday notified Credova Financial, a subsidiary of Public Square Holdings, where Trump Jr. is a board member and investor, that it was no longer under investigation. Public Square is a directory of businesses that sell American-made products, including financing for firearms and family pets, that market to conservative-leaning customers. Credova provides buy now, pay later services to Trump Jr.’s GrabAGun firearms marketplace, which went public this year.
The agency says the investigation, initiated during Democrat Joe Biden’s presidency, was politically motivated against firearms companies and Trump Jr. However, the company has a record of dozens if not hundreds of consumer complaints and settlements over state consumer protection violations.
The closure of the investigation also comes when the CFPB, a watchdog agency that helps oversee the nation’s banks and financial services companies, has been undoing rulemaking, dropping other cases and ending law enforcement work that was done under previous administrations, including Trump’s first term.
https://apnews.com/article/cfpb-trump-jr-credova-investigation-dropped-3c1e6bdcd5ebed03de857908a0037e5d
= new reply since forum marked as read
