PSQ Holdings ‘welcomes’ OCC’s debanking guidance

PSQ Holdings (PSQH) issued a statement welcoming the Office of the Comptroller of the Currency’s new public guidance on reporting prohibited debanking policies. The guidance advances the implementation of President Trump’s Executive Order 14331, Guaranteeing Fair Banking for All Americans, and provides both businesses and consumers with a formal mechanism to document politicized debanking. These reports, the OCC notes, will be considered in bank licensing and Community Reinvestment Act reviews, providing an important enforcement and self-policing mechanism for banks. “This regulatory reform and accountability is long overdue. Legally operating businesses shouldn’t have to spend more than thirty years fighting for access to basic financial services,” said Dusty Wunderlich, Chairman and Chief Executive Officer of PSQ Holdings. “Cutting Americans off from the financial system because of their lawful business or their politics is not risk management, it’s a quiet form of prohibition. It’s fundamentally un-American. Voluntary exchange is the foundation of a free society. When banks and regulators collude to cut lawful businesses out of that exchange, they aren’t managing risk. They’re picking winners and losers based on ideology, then dressing it up as compliance. This is particularly true in the firearms and 2A space, where lawful businesses have faced years of discriminatory pressure and been choked off from the banking system. PSQ Holdings and Credova were built because this discrimination is real, unchecked, and lawful businesses deserve equal access to the modern banking tools powering our economy. The OCC’s guidance finally puts a regulatory price tag on this misbehavior. It’s the right message. It’s overdue. And we hope to see similarly decisive action from other banking regulators.”