Firm Attempts To Track Gun, Ammo Credit Card Purchases

by
posted on June 30, 2022
Firm Attempts

Amalgamated Bank, based in New York, N.Y., had its application to establish a merchant category code for credit card purchases of firearms and ammunition denied for a second time recently in by the International Standards Organization. CBS News reported on June 20 that the firm believes with the designation, “… it could run software to detect purchases in the same way it detects evidence of other suspicious activity, like fraud and human trafficking.”

With the code law enforcement would be notified if a purchase or purchases met the as-yet undisclosed standard. “We could see the patterns of behavior that would indicate to us that there is something not right here," Priscilla Sims Brown, Amalgamated Bank CEO, told CBS News.

The initial application for a new code was submitted by Amalgamated Bank in July 2021 and denied that October. A member of the review committee at the time explained part of the concern was assigning a number to a relatively small number of retailers could prove burdensome to a system already inundated with designations.

In addition, the denial e-mail explained, sporting goods stores already have a unique code. Firearm and ammo purchases at one of them would fall under that designation and never be subject to the software inspection. Efforts to establish a code specific to firearms and ammunition purchases were also in the headlines three years ago. 

Mastercard issued a formal statement to CBS News explaining, “We believe that it is the responsibility of elected officials to enact meaningful policies to address the issue of gun violence, while it remains Mastercard’s role to ensure that consumers are permitted to make lawful purchases on our network.”

Amalgamated Bank markets itself as “America’s Socially Responsible Bank.” The company’s About Us page explains, “We’re political animals, banking hundreds of progressive political organizations, campaigns and candidates.”

Banking institutions, by law, are required to maintain most financial records for a minimum of five years.

Latest

Rem700 Partsview
Rem700 Partsview

Exploded View: Remington Model 700

Since 1962, more Remington Model 700s have been sold than any other bolt-action rifle before or since, and this detailed disassembly guide, exploded view and brief history of the platform, is one worth filing near the toolbox.

Preview: Wildgame Innovations ZeroTrace Portable

The PureION technology employed by Wildgame Innovations’ ZeroTrace line of odor-elimination products chemically neutralizes offending smells—without resorting to an ozone generator—and the company’s Portable unit is the line’s most versatile product yet.

Review: Christensen Arms Modern Precision Rimfire Rifle

The Modern Precision Rimfire from Christensen Arms builds upon time-honored blueprints and is crafted from its maker's flash-forged carbon-fiber technology to create an accurate and fun-to-shoot repeating rifle.

New For 2025: H&K MR A4 Series

Building on its existing commercial line of MR556 and MR762 rifles, HK USA now offers A4 versions of both rifles, as well as large-format pistol variants.

Gun Of The Week: Smith & Wesson Model 1854

Welcome to another American Rifleman Gun Of The Week video, and this time we have a modernized American lever-action to take to the range. Meet the Smith & Wesson Model 1854.

New For 2025: Kimber 2K11

With its new 2K11, Kimber now has a dedicated design based on the 2011 concept that comes loaded with a number of added features.

Interests



Get the best of American Rifleman delivered to your inbox.