Firearms merchant category code-prohibition.
Should this bill pass, it would significantly alter the landscape of consumer data privacy in relation to firearm purchases. The bill emphasizes that no government entity or financial institution may collect or maintain records that could identify firearm owners based on these transactions. Additionally, it facilitates enforcement by allowing firearm entities or individuals to petition the attorney general to investigate any perceived violations. Fines for non-compliance could reach up to $10,000 per violation, reinforcing the seriousness of the bill's stipulations.
House Bill 0151, dubbed the Firearms Merchant Category Code Prohibition, aims to regulate how financial institutions handle transactions related to firearms. This legislation seeks to prohibit the identification of firearm purchases through specific merchant category codes that may lead to discrimination against firearm-related businesses. With this bill, the state of Wyoming intends to protect the privacy of firearms purchasers and prevent the creation of lists that could be used to target legally compliant firearm owners. The bill defines terms related to financial records, firearms, and consumer transactions, establishing enforcement mechanisms to uphold these protections.
While proponents argue that the bill is essential for safeguarding personal privacy and preventing discrimination against lawful firearm purchases, opponents may express concerns about the implications of limiting data collection. The measure raises questions about the balance between consumer protections and the ability of financial institutions to manage risk and fraud effectively. Furthermore, discussions around potential loopholes and definitions could spark debate regarding who qualifies as a 'firearm entity' and how broadly this bill will be interpreted and enforced across different financial contexts.