What does the offer?
This law takes the necessary steps to ensure that financial institutions and credit card companies are prohibited from sharing customers’ private financial information when purchasing firearms, ammunition and other related components and accessories.
The Second Amendment Financial Privacy Act is necessary to prevent the potential exploitation of customer privacy and denial of services by politically-motivated activists.
Thoughts from the executives
“This is a tremendous victory for the firearm industry and those law-abiding Mississippi gun owners who lawfully exercise their Second Amendment rights,” said Lawrence G. Keane, NSSF Senior Vice President and General Counsel.
“Certain ‘woke’ banks advocated to use a special Merchant Category Code specific to purchases made at firearm retailers, risking the possibility of creating a ‘back-door’ firearm registry.”
“NSSF opposed the creation and administration of this firearm retailer-specific MCC and we are grateful to Mississippi’s legislators and Governor Reeves for standing with the firearm industry and law-abiding gun owners to protect the privacy of their financial transactions.”
Second Amendment Financial Act does the following
- Prohibits the use of a code that distinguishes firearm retailers from general merchandise or sporting goods retailers.
- Prohibits a financial institution from discriminating against a firearm retailer based solely on the assignment or nonassignment of a firearms code.
- Prohibits the disclosure of financial records unless required by law or regulation.
- Allows the Attorney General to investigate alleged violations and act as permitted by the law.