Good Morning, Brooklyn: Friday, September 9, 2022
VICTORY ON MERCHANT CATEGORY CODES FOR GUN SALES: Credit card companies are now required to create a Merchant Category Code for gun and ammunition purchases, after a ruling from the International Organization for Standardization (ISO). Attorney General Letitia James, who with her counterpart in California had sent letters to the major credit card companies last week, applauded the ISO’s decision, calling it “a big victory that will help us better address gun violence and avoid tragedies. Labeling gun and ammunition sales is a responsible, common-sense way to help protect Americans and I thank Amalgamated Bank for their bold leadership on this critical issue.”
Attorney General James also urged the credit card companies to go further, flagging suspicious transactions on gun and ammunition sales, in the same way they do for fraud and money laundering.
✰✰✰