Visa begins categorising gun shop sales in US, a move gun control advocates say will help better track suspicious surges of weapon purchases that could be a prelude to a mass shooting
Two of the US' largest public pension funds are pressing the country's largest credit card firms to establish sales codes specifically for gun-related sales.
But gun rights advocates have argued that step would unfairly segregate legal gun sales when most sales do not lead to mass shootings. Merchant Category Codes now exist for almost every kind of purchase, including those made at supermarkets, clothing stores, coffee shops and many other retailers. “Unfortunately, the credit card companies have failed to support this simple, practical, potentially lifesaving tool. The time has come for them to do so," Lander said recently, before Visa's announcement.
Over the years, public pension funds have used their extensive investment portfolios to influence public policy and the market place.
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