Connect with us

Hi, what are you looking for?

U.S. News

Credit Card Companies to Monitor Gun Store Purchases

via Youtube
This article was originally published at Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

Major credit card companies, including American Express, Visa, and Mastercard, have decided to implement a new merchant code for firearm and ammunition retailers in California in order to comply with a new state law.

This move will allow banks to track “suspicious” purchases without providing specific item details.

The decision has sparked controversy, with some arguing that it could violate citizens’ rights and others suggesting it could prevent mass shooting incidents.

In September of 2022, 24 Republican state attorneys general warned, “Categorizing the constitutionally protected right to purchase firearms unfairly singles out law-abiding merchants and consumers alike.”

Despite initially halting the implementation due to pressure from Republican politicians, the companies have now decided to proceed with adopting the new code to comply with California’s law by May 2025, citing regulatory and legislative uncertainty.

Mastercard executive Tucker Foote informed legslators, “The applicable standalone merchants in California primarily engaged in the sale of firearms will be required to utilize the code.”

Visa senior vice president Robert B. Thomson III’s said, “With respect to the [firearm merchant code], there continues to be a tremendous amount of regulatory and legislative uncertainty.”

“Given the conflicting state laws on this topic and the likelihood that other states will enact legislation to either restrict or mandate the code, our implementation pause remains in effect,” added the Visa VP.

Most Popular:

‘The View’ Host Finds Out Awful Truth About Her Ancestors

Prominent Democrat Arrested Over Mail-In Ballot Scheme

You May Also Like