Credit Cards Tracking Gun Purchases!

Published on September 15, 2022
Duration: 7:51

This video discusses the implementation of a new merchant category code (MCC) for firearm retailers, allowing credit card companies to track gun purchases. While proponents claim it will help identify illegal sales, critics argue it creates a de facto registry and could lead to financial deplatforming of legal gun owners. The video highlights the lobbying efforts behind this change and the potential implications for firearm commerce.

Quick Summary

A new merchant category code (MCC) now allows credit card companies to track gun purchases made at firearm retailers. While proponents claim it aids in identifying illegal sales, critics argue it creates a de facto registry and could lead to financial deplatforming of legal gun owners.

Chapters

  1. 00:00New Tracking System Announced
  2. 00:33Sponsor: Eurooptic
  3. 01:05Lobbying Efforts for Gun Purchase Tracking
  4. 01:30Historical Context and Motivation
  5. 02:10The Role of ISO and Amalgamated Bank
  6. 02:34ISO Approval and Woke Politics
  7. 02:55Implications of the New Code
  8. 03:06Amalgamated Bank's Stated Duty
  9. 03:21Zero Information for Banks on Legal Owners
  10. 03:43Credit Card Company Responses
  11. 04:01Potential for False Reports and Regulation
  12. 04:19Gun Control vs. Control
  13. 04:32Call to Action and Outro

Frequently Asked Questions

What is the new merchant category code for gun purchases?

A new merchant category code (MCC) has been established for firearm retailers, allowing credit card companies to identify and track purchases made at Federal Firearm License (FFL) holders. This code aims to differentiate gun store transactions from other retail purchases.

Who lobbied for the creation of this new gun purchase tracking code?

Key entities lobbying for the new merchant category code included New York City officials, the New York Attorney General, Amalgamated Bank, and the California Teachers Pension Fund. Their efforts aimed to enable financial institutions to monitor firearm transactions.

What are the potential implications of credit card companies tracking gun purchases?

Critics fear this tracking creates a de facto registry of gun owners, potentially leading to financial deplatforming, arbitrary flagging of legal purchases, and increased regulatory burdens on law-abiding citizens. Proponents claim it aids in identifying illegal sales.

Which credit card companies have adopted the new gun purchase tracking code?

Visa, Mastercard, and American Express have announced their adoption of the new merchant category code for firearm retailers. Discover has not yet publicly stated its position on the matter.

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