Titled the Second Amendment Financial Privacy Act, the legislation would prohibit a financial institution or its agent from requiring the usage of a firearms code in a way that distinguishes a firearms retailer physically located in the state of Mississippi from general merchandise retailers or sporting goods retailers.
It’s been several months since the news broke about new merchant category codes specifically for gun stores and firearms retailers and so far none of the major credit card companies have actuall.
"This MCC would lead to the creation of a backdoor registry" of gun purchases in violation of state law in Florida, state Senator Danny Burgess told a February hearing on legislation he has authored. 'UNINTENDED CONSEQUENCES' Some trade groups representing banks have expressed concern that the state measures could create problems such as exposing only certain financial companies to enforcement or making it harder for consumers to use credit cards across state lines.
By Ross Kerber (Reuters) - Legislation being pursued by Republicans in several U.S. states aims to limit use of a planned merchant code for credit car.
By Ross Kerber (Reuters) - Legislation being pursued by Republicans in several U.S. states aims to limit use of a planned merchant code for credit car.