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Posted on 04/30/2018 3:39:32 AM PDT by abb
Banks and credit-card companies are discussing ways to identify purchases of guns in their payment systems, a move that could be a prelude to restricting such transactions, according to people familiar with the talks.
The discussions are preliminary but could be deeply controversial. Gun-rights groups have long resisted any effort to monitor which Americans own guns; there are federal laws limiting the government’s use of electronic databases of gun sales.
The financial companies have explored creating a new credit-card code for firearms dealers, similar to how they code restaurants, or department stores, according to people familiar with the matter. Another idea would require merchants to share information about specific firearm products consumers are buying, some of the people said.
Such data could allow banks to restrict purchases at certain businesses or monitor them. The talks, which are informal and might not lead to any action, have occurred against the backdrop of the national debate around guns in the wake of the Parkland, Fla., high-school shooting, which left 17 dead.
Even a move to monitor gun purchases would be contentious, highlighting concerns about the use of consumer data and Wall Street’s involvement in a sensitive political area.
“There’s a privacy angle here,” said Adam Levitin, professor of law at Georgetown University. “There’s the slippery slope danger if it’s guns today maybe it is pornography tomorrow and the day after it’s right-wing literature.”
(Excerpt) Read more at wsj.com ...
If you live in my state it makes no difference. It is monitored either way.
BTW I buy everything I can with my costco visa. I got back $1000 cash last year. Other years up to $1500. It pays, even at the supermarket.
Just on more small step towards making the sporting life more difficult. We know we can’t make guns illegal but we can make it so difficult you don’t want to exercise the rights you have.
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Apart from matching payers with payees, there is no need for a bank to be recording the nature of what was exchanged in the transaction. And apart from the convenience of online records, there is no reason a bank has to preserve that data for very long.
Banks will insist that they need the data to catch frauds but there are other ways to do that analysis that do not put banks in the position of spying on people.
The law should also ban discrimination by banks against any buyer or seller of legal products.
Sounds like a project for the ILA.
There is no ‘sporting life’ specifically mentioned in the constitution.
Though “Life, Liberty and the pursuit of Happiness” is mentioned in the Declaration of Independence, it is not a law of the land. The 2nd amendment is your best bet.
Yeah. Ponzi dollars
As soon as banks stop using armed guards and armored trucks to defend their money and premises we can begin to talk.
That’s why I’ve operated on a cash basis since about 1995 and use checks to pay for my utilities. Credit card is only used for large purchases and paid off in 3 months.
I suspect Bloomberg more than Soros for pushing this banking boycott regarding guns. He’s as nutty as Gabbert and her husband Kelly.
I guess the logical next step is that once they’re identified, they’ll be showing up on credit reports...
Perhaps our side should try to get AHEAD of this crap.
Time for a strong privacy movement in America.
We need some clearinghouses to investigate for and list the most privacy-friendly groups, websites, credit cards, politicians, states, etc.
Then, use and promote them.
As far as cashless, our millenials dislike cash as much as they dislike talking on their phones.
Auto zone fired an employee who was in his car, saw a robbery going on in the store, grabbed his shotgun and went in and stopped the robbery. He violated the no gun policy at autozone.
I drive miles to avoid auto zone.
Why a concern? Redlining is illegal. So they’re trying to find ways other than denying loans.
Checks are being phased out at many banks, and they’re now considered a paid add-on for most new accounts.
I like it! I support the privacy in purchasing act. Where do I sign up?
Why is it anynof a banks business what I spend my money on? Last I checked purchasing a firearm is legal.
There’s no need to patronize department stores or restaurants anymore.
Why not? I have purchased several on gunbroker with no 3% credit card fees using my Cabelas Black Card that gives me 1% back.
After a few years of purchasing, I have accumulated sufficient Cabela points to purchase guns from them. Last month I picked up a S&W 44 mag for about 200 cash out of my own pocket with my accumulated points.
Cabelas would be the last place I would purchase a firearm outright as prices can be found cheaper elsewhere.
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