Fourteen attorneys general from various states in the United States have condemned significant payment networks such as American Express, Mastercard, and Visa for suspending the development of a merchant code that would detect suspicious gun sales. The attorneys general, led by Matthew Platkin of New Jersey, have called the companies’ actions “unjustifiable” and claimed that the firms have given in to political pressure. The group sent a letter to the companies’ chief executives, calling on them to resume their work on the new merchant category code (MCC).
The credit card companies paused their work on the MCC, citing Republican pushback in various U.S. states due to concerns about improper tracking of consumer behavior. The MCC is intended to identify firearms sellers, allowing merchants to identify the type of store where consumers shopped without providing information on the items they bought.
In their letter, the attorneys general expressed their dissatisfaction with the credit card companies’ decision, stating that the firms process millions of transactions in firearms, ammunition, gun kits, and more, making their pledge to take steps to help flag potential gun traffickers and mass shooters all the more important. The attorneys general argued that the MCC is critical in helping identify suspicious sales and preventing dangerous individuals from obtaining firearms.
The attorneys general are not the only ones to have expressed disappointment with the credit card companies’ actions. U.S. Senators Bob Menendez and Elizabeth Warren have also called on federal regulators to help speed up the adoption of the MCC by payment networks.
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The MCC is an essential tool for gun control, particularly in light of the increasing number of mass shootings that have occurred in recent years. The code would allow merchants to identify potential gun traffickers and prevent them from purchasing firearms. Therefore, the credit card companies decided to suspend work on the MCC is concerning, as it could hinder efforts to prevent gun violence.
The attorneys general have called on the credit card companies to resume work on the MCC and fulfill their pledge to take steps to help flag potential gun traffickers and mass shooters. The companies’ decision to suspend work on the MCC is particularly concerning given the current political climate in the U.S. surrounding gun control. Credit card companies mustn’t bow to political pressure and continue to work towards preventing gun violence. The MCC is an essential tool in this effort, and its adoption by payment networks is crucial for its success.
In conclusion, the decision by American Express, Mastercard, and Visa to suspend work on the MCC has been met with condemnation by attorneys general from 14 states. The attorneys general have called on the companies to resume work on the MCC and fulfill their pledge to take steps to help flag potential gun traffickers and mass shooters. Adopting the MCC by payment networks is crucial in preventing gun violence, and credit card companies mustn’t bow to political pressure and continue to work towards this goal.