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Tags: gun sales | credit card | gop

Republicans Riled Over Credit Card Companies' Move to Track Gun Sales

(Newsmax)

By    |   Friday, 23 September 2022 01:26 PM EDT

Visa and other major credit card companies will start categorizing gun shop sales, a move that has angered Republicans who say it would harm the constitutional rights of gun owners and potentially violate consumer protection and antitrust laws, reports Politico.

"Progressives are already cheering that this will be a huge step forward in monitoring suspicious gun purchases," Rep. Roger Williams, R-Texas, said in a House hearing on Wednesday. "Anyone who is against the rights of gun owners will want [financial] institutions to flag every single transaction with a gun [code] to law enforcement."

Generally, firearms retailers have been categorized under more general groups such as specialty retailers or durable-goods sellers. The new code was approved by an international entity that sets standards for the payments industry following pressure from activists who say it will help track suspicious weapons purchases.

In a statement, Amalgamated Chief Executive Priscilla Sims Brown said the codes will allow financial institutions to use new tools to detect and report suspicious activity associated with gun trafficking and mass shootings, without impeding legal gun sales.

"This action answers the call of millions of Americans who want safety from gun violence," Brown said.

Mass shootings this year including at a Texas elementary school that killed 19 children and two teachers have added to the long-running U.S. debate over gun control.

Jimmy Patronis, Florida's Chief Financial Officer and a Republican who is seeking reelection, earlier this week threatened the credit card companies with legislation if the code has a "chilling effect" on gun sales.

"I see it going as far as we need to take it. [Even] if we need to de-platform a financial institution doing business in the state of Florida because of their harm or irreparable harm they're doing to some of these companies," he told Politico.

Two dozen Republican attorney generals earlier this week warned Visa, American Express, and MasterCard to not move forward with the merchant code.

"Be advised that we will marshal the full scope of our lawful authority to protect our citizens and consumers from unlawful attempts to undermine their constitutional rights," they wrote in a letter to the CEOs of the card giants. "Please keep that in mind as you consider whether to proceed with adopting and implementing this Merchant Category Code."

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Newsfront
Visa and other major credit card companies will start categorizing gun shop sales, a move that has angered Republicans who say it would harm the constitutional rights of gun owners and potentially violate consumer protection and antitrust laws, reports Politico.
gun sales, credit card, gop
380
2022-26-23
Friday, 23 September 2022 01:26 PM
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