Democratic lawmakers ask payment firms to renew work on gun code [Reuters]
Mastercard Incorporated (MA)
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Source: Reuters
implementing a sales code for gun merchants, according to letters seen by Reuters, citing how states have passed conflicting requirements on the issue. In March, the payments companies Visa, (V.N) Mastercard, (MA.N) American Express (AXP.N) and Discover Financial (DFS.N) said they would delay the rollout of a "merchant category code," or MCC, meant to help detect suspicious firearms and ammunition sales to combat gun violence amid a spate of mass shootings. The companies at the time cited legislation being passed in Republican-led states to restrict the use of the codes , which they said created legal inconsistencies. Opponents worry the codes could be used to improperly track consumer behavior. According to firearms industry trade group NSSF, seven states have passed laws prohibiting use of the four-digit code, which was approved by an international standards body last year. Meanwhile in September California, the most populous U.S. state, passed a law requiring use of the code.
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