Page 2 - Merchant Category Code News Today

Titled the “Second Amendment Financial Privacy Act,” the bills would prohibit a financial institution operating in Alabama from “requiring merchants to use a merchant category code (MCC) to distinguish a firearms retailer from a general merchandise retailer or a sporting goods retailer during a firearms transaction amounting to financial surveillance and from disclosing financial information regarding the transaction.”

Digital Rupee transaction: The Reserve Bank of India has proposed that CBDC (Central Bank Digital Currency) or, the eRupee, to be accessible to broader sectors of customers.

States are lining up to pass legislation that prevents the government from invading financial privacy when consumers purchase firearms and ammunition from retailers.

Yesterday, a Kentucky bill that bans the use of a credit card merchant code that would enable the tracking of firearm and ammunition purchases became law without a signature from Gov. Andy Beshear.

Titled the "Second Amendment Financial Privacy Act,” the bill would prohibit any financial institution operation in the state from requiring or permitting "the assignment of a firearms code in a way that distinguishes a firearms retailer from other retailers."

Titled the “Second Amendment Financial Privacy Act,” the new law prohibits a credit card processor operating in Wyoming from requiring the usage of or assigning a firearm or ammunition merchant category code “to any merchant located in Wyoming that is a seller of firearms or ammunition separately from general merchandise.”

Axis email to its credit card customers seeks invoices to verify that their trips were indeed intended for leisure. Usage for commercial or business purposes is not permitted, as it constitutes unfair accumulation of reward points.

The bill would prohibit a financial institution operating in Iowa from requiring or assigning a firearms code that distinguishes a firearms dealer from any other retailer. "Firearms code" is defined as “a merchant category code approved by the international organization for standardization specifically for firearm dealers.” It would also be illegal to based solely on the acquirer’s assignment of a firearms code to the firearms retailer.

The Ohio Senate passed a bill that would prohibit financial institutions operating in the state from using a credit card merchant code that would enable the tracking of firearm and ammunition purchases.

The Utah Senate gave final approval to a bill that would prohibit financial institutions operating in the state from using a credit card merchant code that would enable the tracking of firearm and ammunition purchases.