How Many State Governments are Pushing Back on Credit Card Companies

Published on October 15, 2022
Duration: 10:29

This video discusses the creation of a new ISO Merchant Category Code (MCC) for firearms and ammunition purchases, and the subsequent pushback from 24 state Attorneys General. The new code is seen as a way for private companies to circumvent legislative processes and potentially infringe upon Second Amendment rights by tracking and possibly restricting purchases. The Attorneys General argue this practice constitutes 'privatization of tyranny' and violates consumer protection laws.

Quick Summary

Twenty-four state Attorneys General are challenging credit card companies' adoption of a new ISO Merchant Category Code for firearms and ammunition purchases. They argue this code facilitates 'privatization of tyranny' by allowing private entities to track and potentially restrict constitutionally protected purchases, circumventing legislative processes and privacy laws.

Chapters

  1. 00:00Introduction: New Credit Card Code for Guns
  2. 00:58Background: ISO Merchant Code Explained
  3. 01:34Problems with the New Code
  4. 02:01The 'Privatization of Tyranny'
  5. 03:01Transaction Misclassification Example
  6. 04:03State Attorneys General Letter
  7. 04:55Concerns Raised in the Letter
  8. 05:48Pressure Behind the ISO Code
  9. 06:32Purpose of Data Collection
  10. 07:14Defining 'Privatization of Tyranny'
  11. 07:37Collusion and Circumvention
  12. 08:00Chilling Constitutional Rights
  13. 08:32Corporate Leverage for Political Goals
  14. 08:53Conclusion and Call to Action
  15. 09:39Contacting Legislators

Frequently Asked Questions

What is the new Merchant Category Code (MCC) causing controversy?

The International Organization for Standardization (ISO) created a new MCC specifically for firearms and ammunition purchases. This code is intended to allow credit card companies to track these transactions, leading to concerns about privacy and potential restrictions on Second Amendment rights.

Who is pushing back against the new credit card code for gun purchases?

Twenty-four state Attorneys General have sent a scathing letter to Visa, Mastercard, and American Express, expressing strong concerns about the new ISO Merchant Category Code for firearms and ammunition. They argue it's a way to circumvent legislative processes and infringe on constitutional rights.

What are the main concerns regarding the new firearms and ammunition MCC?

The primary concerns are that the MCC could lead to miscategorization of purchases, consumer privacy violations, and the potential for financial institutions to selectively restrict services or decline transactions for constitutionally protected purchases, a practice termed 'privatization of tyranny'.

How does the new credit card code for guns relate to 'privatization of tyranny'?

'Privatization of tyranny' refers to the use of private entities, like credit card companies, to implement policies that restrict rights, which governments cannot legally or politically achieve. The new MCC is seen as an example of this, bypassing legislative and constitutional safeguards.

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