Major payment processing companies have paused work on a plan to track when cardholders make purchases at gun stores, dealing a blow to gun-control advocates.
In a statement to Fox Business, Visa said "significant confusion and legal uncertainty in the payments ecosystem" are reason for the pause.Gun-control advocates want payment processing companies to identify and track purchases made at gun stores in order to flag potential suspicious activity that could lead to a mass shooting incident. Gun rights advocates say this would invade privacy
Amalgamated Bank, a New-York based "socially responsible" lender and investor owned by Workers United, an SEIU affiliate, is one of the leading advocates for the new code. CEO Priscilla Sims Brown lobbied IOS for the change and has said banks are developing "detection scenarios" that, if triggered, would prompt banks to file a suspicious activity report to the Treasury Department's Financial Crimes Enforcement Network, Bloomberg reported.
However, the move prompted swift backlash from gun-rights advocates, who view the MCC changes and broader environmental, social and governance movement as a left-wing attack on conservative-friendly businesses.
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