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/PRNewswire/ -- NSSF®, The Firearm Industry Trade Association, praised Iowa Gov. Kim Reynolds for signing into law House File 2464, informally called the...
Titled the Firearm Purchaser’s Privacy Act, the proposed law would prohibit a payment card network from requiring a New Hampshire merchant to use a “firearms code” defined as “merchant category code 5723, approved in September 2022 by the International Organization for Standardization, for firearms retailers.”
The new law prohibits 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 is now also illegal to deny a transaction based solely on the acquirer’s assignment of a firearms code to the firearms retailer.
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.”
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