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Committee rejects bill aimed at banning payment-network tracking of firearm purchases
Summary
The House committee rejected HB 1443, a bill that would have barred payment networks and banks from using merchant-category or similar codes to track firearm and ammunition purchases, after bankers warned the measure would impose compliance risks on small community banks.
The House Insurance & Commerce Committee voted down HB 1443 on a voice vote after an extended hearing that included industry testimony and public witnesses.
Representative Pilkington presented the bill as a preventive measure intended to prohibit payment networks, processors and financial institutions from using merchant category codes (MCCs) or similar markers to single out firearm or ammunition purchases. “We are trying to be preventative,” Pilkington said, arguing the bill would bar what supporters describe as a potential backdoor to create registries via payment data and would create civil penalties for violations.
The bill drew substantial opposition from community bankers and trade representatives…
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