Page 14 - Merchant Category Code News Today

A coalition of state attorneys general has warned the CEOs of three major credit card companies that a new Merchant Category Code (MCC) for gun purchases could violate consumer protection laws.

The coalition is made up of 24 other states, pushing back at the new reporting efforts.  Attorney General Lynn Fitch has joined a coalition of 24 states alerting the chief executive officers of three major credit card companies that the recent creation of a Merchant Category Code for the processing

Two dozen Republican attorneys general warned Visa, American Express and MasterCard on Tuesday not to go ahead with their plans to add a new merchant category code for gun retailers.

Two dozen Republican state attorneys general warned the chief executive officers of three major credit card companies Tuesday that the recent creation of a Merchant Category Code for processing purchases from gun stores is potentially a violation of consumer protection and antitrust laws.

The attorneys general for two dozen states wrote a letter criticizing three major credit card companies for adopting a code to track gun purchases Tuesday.

Louisiana Attorney General Jeff Landry has joined with 19 other Attorneys General and are alerting chief executive officers of the three major credit card companies that the creation of the Merchant Category Code processing firearms purchases is potentially a violation of consumer protection and antitrust laws.

Two dozen Republican state attorneys general warned the chief executive officers of three major credit card companies Tuesday that the recent creation of a Merchant Category Code for processing purchases from gun stores is potentially a violation of consumer protection and antitrust laws.

The Republican officials, including Missouri Attorney General Eric Schmitt argue the effort will result in "vague and misleading" information.

The congressmen recently expressed concern over major credit card companies implementing a new classification of gun sales

Firearm and ammunition-specific Merchant Category Code (MCC) for gun retailers isn’t about tracking guns. It’s about tracking you.