EPIC! 100 House Repubs send letter to CC companies DEMANDING answers for gun and ammo codes...

Published on September 17, 2022
Duration: 8:18

This video discusses a letter sent by 100 House Republicans to credit card companies, specifically MasterCard, demanding answers regarding the implementation of a new firearm-specific Merchant Category Code (MCC). The Republicans express grave concern that this MCC, created by the ISO following pressure from leftist activists, constitutes an "assault on the Second Amendment rights of law-abiding citizens." The letter questions MasterCard's criteria for flagging transactions, potential circumvention of federal firearm registry laws, and fiduciary duties to shareholders by alienating gun owners.

Quick Summary

100 House Republicans have sent a letter to MasterCard expressing grave concern over the implementation of a new firearm-specific Merchant Category Code (MCC). They argue this code, influenced by leftist activists, constitutes an assault on Second Amendment rights and could be a step towards a de facto firearm registry.

Chapters

  1. 00:00Introduction and Event Announcement
  2. 00:21Republicans Write to Credit Card Companies
  3. 00:43The Letter to MasterCard
  4. 01:33Grave Concern Over Firearm MCC
  5. 02:07Understanding ISO Merchant Category Codes
  6. 02:27Amalgamated Bank's Application for MCC
  7. 03:16Amalgamated Bank's Second Application and ISO Decision
  8. 03:33Amalgamated Bank's Intent to Flag Purchases
  9. 04:00New York AG's Statement on Ammunition Sales
  10. 04:30Difficulty in Defining Suspicious Purchases
  11. 05:08Questions Posed to MasterCard
  12. 05:19Question 1: Support for Firearm MCC
  13. 05:36Question 2: Criteria for Flagging Transactions
  14. 05:52Question 3: Publishing Flagging Criteria
  15. 06:02Question 4: Informing Consumers
  16. 06:11Question 5: Notifying Customers of Flagged Transactions
  17. 06:26Question 6: Reputational Risk and Fiduciary Duties
  18. 07:08Question 7: Circumventing Firearm Registry Laws
  19. 07:22Question 8: Input from Industry Experts
  20. 07:37Question 9: DOJ Data on Criminal Firearm Acquisition
  21. 08:01Conclusion and Call to Action

Frequently Asked Questions

What is the significance of the new firearm-specific Merchant Category Code (MCC) implemented by credit card companies?

The new firearm-specific MCC is significant because it allows credit card companies to track and potentially flag purchases of firearms and ammunition. Critics argue this could be an infringement on Second Amendment rights and a step towards a de facto firearm registry.

Who sent the letter to credit card companies demanding answers about the firearm MCC?

A group of 100 House Republicans sent a letter to credit card companies, specifically targeting MasterCard, to express grave concern over the implementation of the new firearm-specific Merchant Category Code (MCC).

What were the previous MCCs used for firearm sales?

Before the creation of a dedicated firearm MCC, legal firearm sales were typically categorized under MCC 599 for miscellaneous retail stores and MCC 5941 for sporting goods stores.

What concerns do Republicans have regarding the flagging of firearm purchases by credit card companies?

Republicans are concerned that flagging firearm purchases could be a pretext for creating a national firearm registry, circumventing federal law. They also question the criteria used for flagging and whether it unfairly targets law-abiding citizens.

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