Preventing States from Tracking Firearm Purchases via Merchant Codes.
This bill aims to stop state governments from requiring financial institutions to use specific merchant codes (MCCs) to identify and track transactions involving the purchase of firearms and ammunition. For citizens, this means that their credit or debit card purchases of guns cannot be mandatorily flagged or monitored by state regulatory bodies using these specific codes. The legislation focuses on financial privacy regarding firearm transactions and limits state regulatory power in this area.
Key points
States are prohibited from banning or deterring the use of standard merchant category codes (MCCs) for firearm and ammunition retailers.
Purchases of firearms, ammunition, and accessories made with payment cards cannot be mandatorily tracked using specific codes by state authorities.
The U.S. Attorney General is authorized to enforce this prohibition against states.
Status:
Introduced
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