OCC Guidance on Debanking Sparks Hope for Firearms Industry Financial Access
Event summary
- OCC issued guidance on reporting prohibited debanking policies on May 13, 2026, advancing President Trump’s Executive Order 14331.
- PSQ Holdings welcomes the guidance as a step toward restoring fair financial access for lawful American businesses, particularly in the firearms industry.
- Credova, a subsidiary of PSQ Holdings, has financed nearly $400 million in transactions with over 4,800 merchants since 2018.
- OCC will consider debanking reports in bank licensing and Community Reinvestment Act reviews, introducing accountability for banks.
The big picture
The OCC's guidance marks a significant shift in regulatory stance, addressing years of discriminatory debanking practices against lawful businesses, particularly in the firearms sector. PSQ Holdings, which has built its business around serving these underserved markets, stands to benefit from increased financial access and accountability. The broader implications include potential legislative action to permanently codify fair access protections, which could reshape the financial landscape for highly regulated industries.
What we're watching
- Regulatory Enforcement
- How the OCC will enforce the new guidance and whether it will lead to tangible changes in banking practices for underserved industries.
- Legislative Action
- Whether Congress will codify fair access protections through legislation like the FIRM Act and the Fair Access to Banking Act.
- Market Response
- The pace at which traditional financial institutions will adjust their policies to comply with the new OCC guidance and restore services to debanked merchants.
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