Page 8 - Merchant Category Code News Today

Titled the Second Amendment Financial Privacy Act, the legislation would prohibit a financial institution operating in Texas from requiring or assigning a firearms code. A firearms code is defined as "any merchant category code approved by the International Organization for Standardization for a firearms retailer, including Merchant Category Code 5723."

The bill simply states that “a financial institution may not require a firearms retailer in this state to use a firearms code that is different from that of a general transaction.”

Titled the Second Amendment Financial Privacy Act, the law prohibits a financial institution or its agent from requiring the usage of a firearms code in a way that distinguishes a firearms retailer physically located in the state of Mississippi from general merchandise retailers or sporting goods retailers.

TALLAHASSEE, Fla. (April 14, 2023) – On Monday, a Florida House committee 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 House Commerce Committee and the House Regulatory Reform & Economic Development Subcommittee along

Mississippi Gov. Tate Reeves is being applauded by Second Amendment advocates and the firearms industry for signing legislation that prohibits credit card companies and other financial institutions fr...

Many adults, so many peoples lives have just been forever changed right guns. its a clear indicator that somethings not working. youve been on with me when this has happened before, and weve talked about how were searching for solutions. and is there anything that could break the impasse? and i was so fascinated to read today that the credit card companies had a plan. ill read it to you visa, mastercard and discover this month paused a plan to implement a new merchant category code for the natio...

A handful of states have put a stop - at least for now - to the next phase of gun control: Tracking, monitoring and keeping lists based off of Merchant Category Codes (MCC), which were first mandated by the IRS in 2004.

The new law prohibits any West Virginia governmental entity from accessing or obtaining a record of a transaction involving a credit card that is retrieved, characterized, generated, labeled, sorted, or grouped based on the assignment of a firearms code without a warrant or a subpoena in most situations

Titled the Second Amendment Financial Privacy Act, the legislation would prohibit a financial institution or its agent from requiring the usage of a firearms code in a way that distinguishes a firearms retailer physically located in the state of Mississippi from general merchandise retailers or sporting goods retailers.

There’s no bigger proof that the Merchant Category Code (MCC) specific to firearm retailers is really a bad idea than...