Page 9 - Merchant Category Code News Today

Concern about the misuse of firearms databases isn’t just paranoia. The Taliban has reportedly used a firearm ownership database created by the U.S. government to track down gun owners and confiscate firearms in Afghanistan. This goes to show that even if you trust the people creating the database, it can fall into the wrong hands. In other words, the very existence of a database is a danger.

Do your credit card rewards or cash-back earnings change if you pay by mobile wallet? Does your credit card still dole out bonus earnings, or should you use a different card? Here's how these payments work.

The 2nd Amendment Financial Privacy Act would prohibit a payment settlement entity, merchant acquiring entity, or a third-party settlement organization from assigning a merchant category code or otherwise classifying a merchant that is a seller of firearms or ammunition separately from general merchandise retailers or sporting goods retailers.

Titled the Second Amendment Financial Privacy Act, the proposed law would prohibit a financial institution or its agent from requiring or “assigning” a specific firearm or ammunition merchant code separately from general merchandise retailers or sporting goods retailers to any firearms business located in Arkansas.

The legislation would prohibit a payment settlement entity, merchant acquiring entity, or a third-party settlement organization from assigning a merchant category code or otherwise classifying a merchant that is a seller of firearms or ammunition separately from general merchandise retailers or sporting goods retailers.

 

The legislation would prohibit 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.

McCarthy slammed the gun tracking initiative and vowed that House Republicans would remain vigilant in opposing efforts to track gun purchases.

Titled the Second Amendment Financial Privacy Act, the proposed law would prohibit a financial institution or its agent from requiring a specific firearm or ammunition merchant code to any firearms business located in Idaho.

A bill introduced in the Texas House would prohibit financial institutions operating in the state from using a credit card merchant code to track the purchases of firearms and ammunition.