WATCH THIS! Credit Card Companies To Track Gun & Ammo Sales

Published on September 11, 2022
Duration: 9:56

This video from Guns & Gadgets discusses the recent approval of a new International Standards Organization (ISO) merchant category code for gun and ammunition sales, petitioned by Amalgamated Bank. The speaker expresses strong concerns that this code will enable credit card companies to track purchases, potentially leading to the flagging of legal transactions as suspicious and eroding Second Amendment rights. The video highlights the involvement of anti-gun advocacy groups and politicians in pushing for this change and advises viewers to use cash for firearm-related purchases.

Quick Summary

A new International Standards Organization (ISO) merchant category code for gun and ammunition sales has been approved, petitioned by Amalgamated Bank. This code allows credit card companies to track these specific purchases, a move praised by some for gun violence prevention but criticized by others for potentially infringing on Second Amendment rights and flagging legal transactions.

Chapters

  1. 00:00Introduction: Credit Card Companies Tracking Gun & Ammo Sales
  2. 00:29Amalgamated Bank's Petition for New ISO Merchant Code
  3. 01:06CEO of Amalgamated Bank on Reporting Suspicious Activity
  4. 01:45Questioning Legality of Credit Card Gun Purchases
  5. 02:15Understanding ISO Merchant Category Codes
  6. 03:10Letters to Credit Card Companies from Anti-Gun Groups
  7. 03:40Advocacy Groups' Role and Timeline
  8. 03:56NY Governor's Statement on New Code
  9. 05:18NY Attorney General's View on Gun Violence Prevention
  10. 06:02Speaker's Concerns: Eroding Second Amendment Rights
  11. 08:15Congressional Involvement in the New Classification
  12. 08:25Anticipated Outcomes and Advice for Gun Owners

Frequently Asked Questions

What is the new merchant category code for gun and ammunition sales?

Amalgamated Bank petitioned the International Standards Organization (ISO) to create a new, four-digit merchant category code specifically for gun and ammunition stores. This code aims to allow financial institutions to track these specific types of transactions.

Who is behind the push for a new gun sale tracking code?

Amalgamated Bank, along with anti-gun advocacy groups like 'Guns Down America' and 'Giffords,' and politicians including New York Governor Kathy Hochul and Attorney General Letitia James, have been instrumental in pushing for the new ISO merchant category code.

What are the concerns regarding the new gun sale tracking code?

Critics, like the speaker in this video, are concerned that this new code will enable credit card companies to track legal gun and ammunition purchases, potentially flagging innocent buyers as suspicious and eroding Second Amendment rights. The effectiveness in catching illegal sales is also questioned.

What advice is given to gun owners about this new tracking system?

The speaker advises gun owners to be aware of this development and to consider using cash for firearm and ammunition purchases to avoid having their transactions tracked by credit card companies. Vigilance in protecting constitutional rights is emphasized.

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