Banking Institution Is Trying To Track Certain Gun and Ammo Sales

Banking Institution Is Trying To Track Certain Gun and Ammo Sales

Banking Institution Works Tirelessly To Invade Privacy Of Gun-Owning Americans

( – Guns and ammo have become a target of Democrats and gun control advocates after recent shootings have rocked the nation. With Biden in office and his party tenuously in control of both chambers of Congress, the chances of passing gun control legislation are higher than they’ve been in decades but still doubtful.

However, it’s not just the government trying to implement change to the system. A banking institution is attempting to track guns and ammo purchases, potentially intending to alert law enforcement of suspicious activity.

Reason for Reform

Jim Axelrod, a chief investigative correspondent with CBS News, sat down with Priscilla Sims Brown, the CEO of Amalgamated Bank, for an exclusive interview. The two discussed the bank’s attempt to track credit card purchases of guns and ammo. The CEO mentioned a person’s ability to buy guns largely depends on their “ability to use the financial system.”

CBS reported the bank’s interest in applying for a seller code regarding firearms after it noticed many of America’s mass shooting suspects funded their gun and ammo purchases through credit cards. Brown asserted, “We have an obligation to address crime that is being facilitated through our system.”

Gun-Specific Seller Codes

Different types of stores throughout the US have unique seller codes, such as sporting goods, grocery, medical, and other types of items and services. Yet, despite the existence of thousands of gun stores in America, not one of them has a seller code. That’s why Amalgamated Bank applied to create a new merchant category code (MCC) specific to firearm and ammunition stores.

Despite the financial institution’s best intentions, the International Standards Organization (ISO) denied their request.

Application Denial

The bank sent the application to representatives at Mastercard and Visa who serve on ISO’s committee concerning new MCCs. The Mastercard employee allegedly told Amalgamated they had received the bank’s application and would bring the matter up at the next meeting. The committee noted the creation of a new MCC would essentially be pointless because it wouldn’t capture the sale of firearms or ammo at sporting goods stores and other retailers that sell guns.

A Dangerous Precedent

Amalgamated Bank is setting a scary precedent. If the ISO had accepted their application, the company could have tracked who bought firearms or ammo and when. While it could be a powerful law enforcement tool, many gun owners would see it as an invasion of their privacy, violating the Constitution.

What do you think of Amalgamated Bank’s actions? Do you think any erosion of Constitutional rights could put us on a slippery path? Could Americans eventually see their rights stripped away?

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