The National Rifle Association is shutting down the credit card industry’s new effort to track gun purchases, describing the plan as “creating a national registry of gun owners.”
The NRA is pushing against the International Standards Organization’s (ISO) decision on Friday to create a new merchant category that sets rules in the financial services industry., ISO’s decision comes after On credit card companies by Democrats in Congress who favor the use of such codes.
Merchant category codes are four-digit codes that describe the retailer where the purchase is made, without specifying the specific item purchased. this code Permission Credit-card issuers to track and restrict purchases – for example, providing rewards credit cards that give bonus points for travel purchases or cash-back on grocery spending.
Proponents of the new code say the effort will help mark the sale of suspicious firearms and reduce gun crime. Until now, credit card companies stacked firearms dealers with other retail or sporting goods stores.
On Monday, the NRA had questioned the purpose of the new code and the motive behind making it.
NRA spokesman Lars Dulceid said in an email to CBS, “ISO’s decision to create a firearms specific code is nothing more than a dedication to anti-gun politicians and activists who defend the rights of law-abiding Americans one at a time.” Willing to do the transaction.” Moneywatch. “It’s not about tracking or prevention or any virtuous motivation – it’s about creating a national registry of gun owners.”
Gun rights advocates and lobbyists such as the NRA have argued that classifying gun sales would unfairly mark an industry when the majority of sales did not lead to mass shootings.
Advocates of the new code for firearms merchants say it could help law enforcement spot suspicious buying patterns, potentially preventing mass shootings where gun purchases were financed by credit cards.
For example, the shooter who terrorized aMore than $9,000 worth of guns, ammunition and tactical gear were charged in the two months before his attack in 2012, which killed 12 and injured 70.
Visa, MasterCard and American Express all said they plan to move forward with classifying gunstore sales.
Gun control advocates, along with two of the nation’s largest public pension funds, have supported the use of the code. Merchant category codes are now present for almost every type of purchase, including those made at supermarkets, clothing stores, coffee shops, and many other retailers.
“When you buy airline tickets or pay for your groceries, your credit card company has a special code for those retailers. It’s common knowledge that we have access to gun and ammunition stores. New York City Mayor Eric Adams, a former police captain who blames the proliferation of guns for his city’s deadly violence, Told Late last month it urged credit card companies to adopt a merchant code for gun and ammunition stores.
– With reporting by The Associated Press.