Referred to the House Committee on Financial Services.
The bill amends Section 127 of the Truth in Lending Act to bar covered entities from using any merchant category code that separately identifies firearms merchants or ammunition merchants. "Covered entity" is defined to include banks, acquirers, payment card networks, issuers, and any participant in authorizing, clearing, or settling credit card transactions. The prohibition applies to the use of such merchant category codes for identifying those merchants.
Liberals prioritize public‑safety and AML capabilities; conservatives prioritize anti‑debanking protections
Narrow and administrable so easier in a chamber sympathetic to firearm-industry protections, but partisan framing may generate opposition.
The bill amends Section 127 of the Truth in Lending Act to bar covered entities from using any merchant category code that separately identifies firearms merchants or ammunition merchants. "Covered entity" is defined to include banks, acquirers, payment card networks, issuers, and any participant in authorizing, clearing, or settling credit card transactions.
The prohibition applies to the use of such merchant category codes for identifying those merchants.
Technically narrow and low-cost but touches a polarizing issue and lacks compromise features; Senate and procedural hurdles reduce odds.
How solid the drafting looks.
Liberals prioritize public‑safety and AML capabilities; conservatives prioritize anti‑debanking protections
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberals prioritize public‑safety and AML capabilities; conservatives prioritize anti‑debanking protections
Likely critical.
They will see the bill as limiting financial-sector tools used to detect illicit firearm commerce and enforce consumer protections.
They may acknowledge privacy and de‑banking concerns but view public safety and compliance as higher priorities.
Mixed view.
Appreciates preventing arbitrary financial exclusion, but worries about inhibiting legitimate compliance and law enforcement functions.
Would seek narrow clarifications and safeguards to balance privacy and public safety.
Strongly supportive.
Frames the bill as protecting Second Amendment commerce from financial censorship and partisan corporate pressure.
Sees the prohibition as preventing banks and networks from weaponizing payment codes against lawful merchants.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technically narrow and low-cost but touches a polarizing issue and lacks compromise features; Senate and procedural hurdles reduce odds.
The bill has not accumulated any surfaced votes yet.
Liberals prioritize public‑safety and AML capabilities; conservatives prioritize anti‑debanking protections
Technically narrow and low-cost but touches a polarizing issue and lacks compromise features; Senate and procedural hurdles reduce odds.
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