Posted on 09/13/2022 10:40:21 AM PDT by bitt
Visa, MasterCard and American Express said they will implement a new merchant category code for gun retailers.
The International Organization for Standardization approved the code last week.
The National Rifle Association is criticizing the move and says the code is "a capitulation to anti-gun politicians and activists."
Gun law advocates are praising a decision to adopt a new sales code for transactions at gun stores, a move they had urged to help flag suspicious purchases.
Last week, the International Organization for Standardization (ISO), which sets standards for payment transactions, approved the special merchant code for credit and debit card transactions at U.S. gun stores. Then over the weekend, Visa, MasterCard, and American Express said they would begin using the new code.
John Feinblatt, president of Everytown for Gun Safety, said the move is a critical first step toward giving banks and credit card companies the tools they need to recognize dangerous firearm purchasing trends − such as a domestic extremist building up an arsenal — and report them to law enforcement.
A merchant category code indicates the types of services or goods sold to consumers. Previously, gun store sales were categorized as "general merchandise".
The attorneys general of New York and California and Massachusetts Sens. Elizabeth Warren, D-Mass., and Ed Markey, D-Mass., were among the other notable figures who supported the effort. In New York, dozens of lawmakers had sent letters to the leaders of major credit card companies, urging them to adopt the code.
"When you buy an airline ticket or pay for your groceries, your credit card company has a special code for those retailers. It's just common sense that we have the same policies in place for gun and ammunition stores," New York City Mayor Eric Adams said to the Associated Press over the weekend.
(Excerpt) Read more at cnbc.com ...
Priscilla Sims-Brown is CEO of Almalgamated Bank. She is the one who pressed the credit card companies into tracking legal gun sales.
Oh yeah, Priscilla Sims-Brown is also a member of the Clinton Foundation. Imagine that.
Big Brother is coming for your guns.
Just Pay CASH.
Why is the business of the banking industry to monitor legal commercial activities? I thought investigation and enforcement were activities relegated to government.
How does coding a transaction flag it as suspicious?
So what if the gun stores and FFL’s use ACH instead?
It won’t cut down on a damn thing....................
The democrats are building a Gun Registry
DOH! And if you have to, get a cash advance on visa, MasterCard or amex to complete the deal. 😂🙌🔫
I think it means they can quickly flag those purchases for
the government, give them a list of who’s naughty and nice,
according to their values.
I think it’s a little less nefarious than what it’s being made to be. There’s already hundreds of merchant codes breaking everything you charge down into all kinds of categories.
https://www.dm.usda.gov/procurement/card/card_x/mcc.pdf
Liberals seem to think credit card companies are either going to become cops or give all your information to cops.
Form 4473 is a Federal background check.
If the feds do not see a problem with the sale, busy bodies shouldn’t have a problem either.
This is a violation of the 2nd Amendment because is is business attempting to restrict Rights at the request of Government.
“How does coding a transaction flag it as suspicious?”
Obviously, they intend to share all your information with the government who will analyze purchases and try to harass you for buying guns.
I think just about all gun sales on credit cards are legit sales. That’s who they are targeting.
And whatcha bet she owns a gun?!
Yep. Because we know, only criminals with violent intent use their credit cards to purchase firearms.
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