cloudyn.png
Tuesday October 4th, 2022 3:57AM

GOP AGs push Visa, Mastercard, AmEx not to track gun sales

By The Associated Press
Related Articles
  Contact Editor

NEW YORK (AP) — A group of Republican attorneys general are pushing the major payment networks — Visa, Mastercard and American Express — to drop their plans to start tracking sales at gun stores, arguing the plans could infringe on consumer privacy and push legal gun sales out of the mainstream financial network.

The letter comes more than a week after the payment networks said they would adopt the International Organization for Standardization's new merchant code for sales at gun stores. The merchant code would categorize sales at gun stores not unlike how payment networks categorize sales at airlines, restaurants, and department stores.

In their letter, the AGs threaten to use all legal tools at their disposal to stop the payment networks from tracking gun sales.

“Categorizing the constitutionally protected right to purchase firearms unfairly singles out law-abiding merchants and consumers alike,” the letter said.

In recent weeks gun control advocates argued that separately categorizing gun store sales could potentially flag a surge of suspicious sales activity to public safety officials. They have used the example from the 2016 Pulse Nightclub shooting in Orlando, where the shooter purchased $26,000 worth of ammunition ahead of the massacre.

But the Second Amendment lobby and its advocates have argued that the merchant code would do a poor job of tracking potential red flags and could unfairly flag legal gun purchases. A sale of a gun safe worth thousands of dollars would be categorized as a gun store sale just as much as someone buying thousands of dollars worth of ammunition, for example.

The payment networks said when they adopted the policy that they are just following the guidance from ISO. It will be largely up to the banks who issue the credit and debit cards to decide whether they want to stop sales under certain merchant codes.

The CEOs of the major banks will appear in front of Congress on Wednesday and Thursday this week, and they are almost certainly to be asked questions on the gun store sales tracking controversy.

  • Associated Categories: Associated Press (AP), AP National News, AP Online National News, Top General short headlines, AP Business, AP Business - Consumer News, AP Business - Corporate News, AP Business - Industries, AP Business - Financial Services
© Copyright 2022 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Feds: 47 exploited pandemic to steal $250M from food program
Federal authorities have charged 47 people in what they're calling the largest fraud scheme yet to take advantage of the COVID-19 pandemic by stealing and defrauding the government of $250 million
3:02PM ( 4 minutes ago )
UN chief: World is 'paralyzed' and equity is slipping away
In an alarming assessment, the head of the United Nations is telling world leaders that nations are “gridlocked in colossal global dysfunction” and aren’t ready or willing to tackle major challenges
2:58PM ( 7 minutes ago )
'Serial' host: Evidence that freed Syed was long available
The creator of a true-crime podcast that helped free a Maryland man imprisoned for murder said that she feels a mix of emotions over how long it took authorities to act on evidence that’s long been available
2:47PM ( 19 minutes ago )
Associated Press (AP)
Congress eyes strongest response yet to Jan. 6 attack
House Democrats are voting this week on changes to a 19th century law for certifying presidential elections
2:07PM ( 58 minutes ago )
After Russian occupation, traumatized Ukrainian city emerges
Izium, in far eastern Ukraine, was among the first cities taken by Russian forces after the war started on Feb. 24 and became a command center for the occupying forces
2:02PM ( 1 hour ago )
Feds: Minnesota food scheme stole $250M; 47 people charged
Federal authorities have charged 47 people in what they're calling the largest fraud scheme yet to take advantage of the COVID-19 pandemic by stealing and defrauding the government of $250 million
1:52PM ( 1 hour ago )
AP National News
Ad spending shows Dems hinging midterm hopes on abortion
Democrats are pumping an unprecedented amount of money into advertising related to abortion rights
12:45PM ( 2 hours ago )
Officials: 6 injured in Chicago apartment building explosion
Officials say at least six people were rushed to hospitals after being injured when an explosion Tuesday tore through the top floor of a Chicago apartment building
12:20PM ( 2 hours ago )
Trump legal team balks at judge's declassification questions
Donald Trump’s legal team has told a special arbiter it doesn't want to answer questions about the declassification status of documents seized from the Trump's Florida home
12:18PM ( 2 hours ago )
AP Online National News
With Griner in jail, WNBA players skip Russia in offseason
Top WNBA players are finding other places to compete this winter, not wanting to go back to Russia after the arrest and conviction of Brittney Griner on drug possession charges and the country's invasion of Ukraine
10:09AM ( 4 hours ago )
With ceremonies over, King Charles III faces biggest task
The cannons have sounded; the bells have rung; the mourners have paid their respects
9:54AM ( 5 hours ago )
Wall Street opens lower ahead of key Fed decision on rates
Stocks are opening broadly lower on Wall Street and Treasury yields are rising ahead of a key decision on interest rates by the Federal Reserve
9:47AM ( 5 hours ago )
Top General short headlines
Turkish leader to United Nations: Be 'much more influential'
Turkey's president used his speech at the U.N. General Assembly to shine a spotlight on Turkish maneuvering in conflicts that span from Syria to Ukraine
1:26PM ( 1 hour ago )
Amid energy squeeze, Paris' Champs-Elysees trims shop lights
The committee governing Paris’ Champs-Elysees says it is switching off shop lights on the famed avenue hours earlier each night to help save energy as the war in Ukraine squeezes the electricity market in Europe
12:46PM ( 2 hours ago )
Germany close to deal on nationalizing gas company Uniper
Natural gas supplier Uniper says it’s in “final discussions” for Germany to nationalize the company
12:06PM ( 3 hours ago )
AP Business
Regulators try to stop unlawful nursing home debt collection
A federal report says nursing homes and debt collectors are flouting a law that prohibits them from requiring friends and family of care home residents to be responsible for costs of the facilities
5:21PM ( 1 week ago )
Feds try to stop unlawful nursing home debt collections
A federal report says nursing homes and debt collectors are flouting a law that prohibits them from requiring friends and family of care home residents to be responsible for costs of the facilities
9:49AM ( 1 week ago )
Internet service providers drop challenge of privacy law
One of the strictest internet privacy laws in the country has withstood a legal challenge, as a group of telecommunication providers has dropped its bid to overturn it
1:57PM ( 2 weeks ago )
AP Business - Consumer News
Hungary appeals for time, as EU weighs hefty fund freeze
Hungary's justice minister is urging her European Union partners to be “tolerant” after the EU’s executive branch recommended suspending billions of euros in funding to the country
5:53AM ( 9 hours ago )
US court awards $73 million for Venezuelan opponent's death
A federal judge in Miami has awarded $73 million in damages to the family of a prominent opponent of Venezuela’s socialist government who died while in custody in what he described as a “murder for hire” carried out by a criminal enterprise led by President Nicolás Maduro
9:34PM ( 17 hours ago )
Ukraine warns of 'nuclear terrorism' after strike near plant
A Russian missile has blasted a crater close to a nuclear power plant in southern Ukraine, damaging nearby industrial equipment but not hitting its three reactors
8:45PM ( 18 hours ago )
AP Business - Corporate News
Germany close to deal on nationalizing gas firm Uniper
German natural gas importer Uniper says it’s in “final discussions” with the government on a deal for Berlin to take a majority stake
10:42AM ( 4 hours ago )
Company loses bid to recover payout for Dubai hotel fire
An insurance company that was ordered to pay more than a billion Dirhams in damages for a 2015 New Year’s Eve fire in Dubai has lost a civil lawsuit that it filed to try and recover the money
9:28AM ( 5 hours ago )
Global shares mostly gain as investors await Fed rate hike
Global shares are mostly higher as investors await an interest rate increase by the U.S. Federal Reserve
5:09AM ( 9 hours ago )
AP Business - Industries
US stocks rise ahead of expected interest rate hike by Fed
Stocks closed higher on Wall Street after swaying between small gains and losses much of the day as investors brace for another big interest rate increase this week from the Federal Reserve
4:42PM ( 22 hours ago )
US stocks waver ahead of expected interest rate hike
Stocks swayed between small gains and losses on Wall Street as investors brace for another big interest rate increase this week from the Federal Reserve
2:10PM ( 1 day ago )
Europe's central bank to use climate scores as it buys bonds
The European Central Bank says it will give corporations climate scores before it buys their bonds and intends to prioritize those doing more to reveal and reduce greenhouse gas emissions
1:01PM ( 1 day ago )
AP Business - Financial Services
UN chief: World is 'paralyzed' and equity is slipping away
In an alarming assessment, the head of the United Nations is telling world leaders that nations are “gridlocked in colossal global dysfunction” and aren’t ready or willing to tackle major challenges
2:58PM ( 9 minutes ago )
'Serial' host: Evidence that freed Syed was long available
The creator of a true-crime podcast that helped free a Maryland man imprisoned for murder said that she feels a mix of emotions over how long it took authorities to act on evidence that’s long been available
2:47PM ( 21 minutes ago )
Putin meets Bosnian Serb separatist leader, praises Serbia
Bosnian Serb separatist leader Milorad Dodik has met with Russian President Vladimir Putin in Moscow
2:46PM ( 22 minutes ago )
US stocks fall broadly ahead of key Fed decision on rates
Stocks are falling broadly on Wall Street and Treasury yields are mostly rising ahead of a key decision on interest rates by the Federal Reserve
2:39PM ( 29 minutes ago )
4 Ukrainian regions schedule votes this week to join Russia
The separatist leaders of four Russian-controlled areas of Ukraine say they are planning to hold referendums this week for the territories to become part of Russia as Moscow loses ground in the war it launched
2:37PM ( 31 minutes ago )