ALERT! Senator calls on DOJ and Treasury to “make rules” using new CC codes for guns and ammo…

Published on December 5, 2022
Duration: 4:54

Senator Kirsten Gillibrand is urging the DOJ and Treasury to use new ISO-approved Merchant Category Codes (MCCs) to track suspicious firearm purchases. The goal is to identify potential gun trafficking by flagging 'random and unusually large purchases,' though concerns are raised about the definition of 'unusual.' This represents a significant federal push to leverage financial data for gun control initiatives.

Quick Summary

Senator Kirsten Gillibrand is urging the DOJ and Treasury to utilize new ISO-approved Merchant Category Codes (MCCs) to track suspicious firearm and ammunition purchases. The initiative aims to identify potential gun trafficking by flagging 'random and unusually large purchases,' though concerns exist regarding the subjective definition of 'unusual.'

Chapters

  1. 00:00Introduction & Breaking News
  2. 00:19Background: New Merchant Codes for Guns
  3. 00:59Senator Gillibrand's Call to Action
  4. 01:44Federal Government Involvement
  5. 02:15ISO Approved Merchant Codes Explained
  6. 02:42Orchestrated Policy Push Details
  7. 03:32Reporting Suspicious Purchases
  8. 04:07Defining 'Unusually Large Purchases'

Frequently Asked Questions

What are the new Merchant Category Codes (MCCs) for guns and ammo?

The International Organization for Standardization (ISO) approved new four-digit Merchant Category Codes (MCCs) to specifically track large-scale firearm and ammunition purchases. These codes are now being considered for federal implementation to monitor financial transactions.

Who is asking the DOJ and Treasury to use these new gun purchase codes?

Senator Kirsten Gillibrand, along with representatives from Amalgamated Bank and other organizations, is calling on the Department of Justice (DOJ) and the Treasury Department to implement advisories for financial institutions to report suspicious gun purchases using the new MCCs.

What is the stated purpose of tracking gun purchases with MCCs?

The stated purpose is to identify and report 'random and unusually large purchases' of firearms and ammunition that could potentially lead to gun trafficking. The intention is not to penalize lawful firearm enthusiasts or collectors.

What are the potential concerns regarding the new gun purchase tracking codes?

A significant concern is the subjective definition of what constitutes an 'unusual' purchase. Critics question who will arbitrate these definitions and worry about potential overreach by federal agencies like the DOJ and Treasury in monitoring lawful transactions.

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