Arkansas House Bill HB1620

Arkansas 2023 Regular Session

• Introduced: 3/14/23
• Refer: 3/14/23
• Failed: 5/1/23

Caption

To Create The Second Amendment Financial Privacy Act; To Prohibit Financial Institutions From Using Certain Discriminatory Practices; And To Provide For Enforcement Of Violations.

Impact

If enacted, HB1620 would significantly alter the landscape of financial transactions involving firearms in Arkansas. By banning the classification of firearm purchases with specific merchant codes, the bill seeks to ensure that financial institutions cannot create lists or registries of firearms owners. This legislation is positioned as a safeguard against what supporters view as overreach by financial entities and government agencies into constitutionally protected rights. It aims also to reduce the potential chilling effect that financial surveillance may have on individuals exercising their rights to bear arms.

Summary

House Bill 1620 proposes the creation of the Second Amendment Financial Privacy Act in Arkansas. This bill aims to prohibit financial institutions from utilizing specific merchant codes related to firearms transactions, which could enable tracking and surveillance of lawful purchases. The General Assembly asserts that financial institutions, by assigning a firearms code to payment transactions, can infringe upon citizens' Second Amendment rights, leading to undue surveillance and profiling of gun owners and purchasers of ammunition. The bill intends to protect personal privacy concerning firearm ownership and purchasing activities.

Contention

Notably, the bill has sparked debate regarding the balance between privacy rights and the needs of law enforcement. Proponents claim the law is necessary to protect individual liberties, while critics argue it may hinder law enforcement's ability to address illegal gun trafficking and other criminal activities. The enforcement mechanisms outlined in the bill permit the Attorney General to investigate violations and could lead to civil actions from individuals adversely affected by perceived breaches of their privacy. Critics may also suggest that a lack of designated codes could complicate financial monitoring for unlawful activities.