This bill would amend Chapter 66 of the General Statutes, specifically creating a new Article that enforces strict regulations on how financial institutions handle transactions involving firearms retailers. By establishing that no one can be identified through their payment card transactions specifically as purchasing firearms-related items, this legislation aims to protect the privacy of consumers and firearms retailers from potential discrimination or profiling based on their purchases.
Summary
House Bill 899, titled 'No Firearms Code for Credit Card Transactions', aims to prohibit financial institutions from using a firearms code in connection with payment card transactions involving firearms retailers in North Carolina. The legislation defines key terms such as 'firearms retailer' and 'financial institution' and outlines the prohibition against designating payment transactions with a firearms code. The bill seeks to prevent the identification of customers' purchases related to firearms through their payment processing details.
Sentiment
The sentiment surrounding HB 899 appears to lean towards supporting firearm retailers and advocating for consumer privacy rights. Proponents likely view it as a necessary measure to safeguard against the misuse of transaction data, which they believe could lead to stigmatization or unwarranted scrutiny of lawful firearm purchases. Critics of such legislation, while not extensively documented in the current snippets, may argue concerns about the implications for tracking illegal transactions or verifying lawful commerce.
Contention
There may be notable points of contention regarding the enforcement mechanisms in place for any violations of this act. HB 899 outlines civil liabilities for financial institutions that misuse firearms codes, including potential penalties of up to $10,000 for violations. The bill also empowers the Attorney General to investigate violations, which emphasizes state involvement in ensuring compliance. Critics may argue about the balance between consumer privacy and the necessity of monitoring transactions to prevent illegal activities.
Financial Institutions; to prohibit financial institutions from using a merchant category code to identify firearms transactions; to prohibit disclosure of financial information regarding firearms transactions
Financial Institutions; to prohibit financial institutions from using a merchant category code to identify firearms transactions; to prohibit disclosure of financial information regarding firearms transactions
A bill for an act relating to government records of firearms, and payment card transactions involving firearms and ammunition, and providing civil penalties.(See HF 2464.)
Prohibit the use of a firearms code for transactions involving firearms, accessories, components, and ammunition and to provide a civil penalty therefor.
A bill for an act relating to merchant category codes for transactions involving firearms and ammunition, firearm registries and records, and providing civil penalties. (Formerly HSB 671.) Effective date: 07/01/2024.