Two dozen Republican attorneys general are urging Visa, MasterCard, and American Express to drop their plans for a new store code for gun retailers.
to transactions made at gun stores. Gun law advocates have said such a code is a critical first step toward giving banks and credit card companies the tools they need to recognize dangerous firearm purchasing trends − such as a domestic extremist building up an arsenal — and report them to law enforcement.
A merchant category code indicates the types of services or goods sold to consumers. Previously, gun store sales were categorized as"general merchandise". Visa, MasterCard and American Express have previously said the new codes won't inhibit legal commerce. "A fundamental principle for Visa is protecting all legal commerce throughout our network and around the world and upholding the privacy of cardholders who choose to use Visa," Visa said in a statement last week."That has always been our commitment, and it will not change with ISO's decision."
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