Bill > HR1224

This bill, titled the "Protecting the Second Amendment in Financial Services Act," prohibits financial entities involved in credit card transactions from using specific merchant category codes (MCCs) that would separately identify businesses selling firearms or ammunition. A merchant category code is a four-digit number used by credit card companies to classify businesses by the type of goods or services they provide. Under this proposed legislation, any entity involved in processing credit card transactions—including banks, payment networks, and card issuers—would be forbidden from creating or using a distinct MCC that singles out firearms or ammunition merchants. The bill aims to prevent potential financial tracking or discrimination against businesses in the firearms industry by ensuring that these merchants are categorized in the same way as other retail or sporting goods businesses. By amending the Truth in Lending Act, the bill seeks to protect what its proponents view as Second Amendment rights in the context of financial services and transactions.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/1224/all-info