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 Merchant Category Code (MCC) for gun and ammunition sales by the International Standards Organization (ISO), following a petition from Amalgamated Bank. The speaker, an expert on Second Amendment issues, expresses strong concerns that this code will be used by credit card companies like Visa, American Express, and Mastercard to track and potentially flag legal firearm purchases, viewing it as an infringement on constitutional rights. The video highlights quotes from Amalgamated Bank CEO Priscilla Sims Brown, NY Governor Kathy Hochul, and NY Attorney General Letitia James, who support the code as a tool to combat gun violence, while the speaker argues it unfairly targets law-abiding citizens and advises using cash for purchases.

Quick Summary

The International Standards Organization (ISO) has approved a new Merchant Category Code (MCC) for gun and ammunition sales, following a petition by Amalgamated Bank. This code is intended to help identify suspicious transactions and combat gun violence, though critics argue it infringes on Second Amendment rights and may unfairly flag legal purchases.

Chapters

  1. 00:00Introduction: Credit Card Tracking of Gun Sales
  2. 00:29Amalgamated Bank's Petition for New MCC
  3. 01:06Amalgamated Bank CEO on Reporting Suspicious Activity
  4. 02:15Understanding ISO Merchant Category Codes
  5. 03:10Letters Sent to Visa, Amex, Mastercard
  6. 03:56NY Governor Hochul's Support
  7. 05:18NY AG Letitia James on Gun Violence Prevention
  8. 06:02Speaker's Concerns: Second Amendment Infringement
  9. 08:15Congressional Support for New Classification

Frequently Asked Questions

What is the new Merchant Category Code (MCC) for gun and ammunition sales?

The International Standards Organization (ISO) has approved a new four-digit Merchant Category Code (MCC) specifically for gun and ammunition stores. This code was created following a petition by Amalgamated Bank to help identify and potentially flag transactions related to firearms.

Why are credit card companies being asked to track gun and ammo sales?

Amalgamated Bank, along with advocacy groups and politicians, petitioned for the new MCC to help identify suspicious activity and combat gun violence. Proponents believe it will aid law enforcement, while critics argue it infringes on Second Amendment rights and unfairly targets legal purchases.

Which credit card companies are involved in tracking gun and ammo sales?

Major credit card companies including Visa, American Express, and Mastercard have received letters urging them to adopt the new Merchant Category Code (MCC) for gun and ammunition sales. Their decision to implement this code will determine the extent of transaction tracking.

What are the concerns regarding the new gun and ammo sales MCC?

Critics, like the speaker in the video, fear the new MCC will be used to track and potentially penalize legal firearm purchases, infringing upon Second Amendment rights. They argue that illegal gun sales are rarely conducted via credit card and that this measure unfairly targets law-abiding citizens.

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