The Consumer Financial Protection Bureau dropped an investigation into a buy now, pay later company focused on financing gun purchases, calling the Biden-era probe into the company “politically motivated.”
The CFPB opened its investigation into Credova in February 2021 and informed the company that it was authorized to bring an enforcement action last August. Credova offers buy now, pay later and leasing options for firearms purchases.
But the investigation, which continued after Rohit Chopra was confirmed as CFPB director in September 2021, wasn’t about the potential costs or other consumer protection issues related to Credova’s financial products, CFPB Chief Legal ...