https://www.wsj.com/articles/banks-card ... 1525080600
Banks and credit-card companies are discussing ways to identify purchases of guns in their payment systems, a move that could be a prelude to restricting such transactions, according to people familiar with the talks.
The discussions are preliminary but could be deeply controversial. Gun-rights groups have long resisted any effort to monitor which Americans own guns; there are federal laws limiting the government’s use of electronic databases of gun sales.
The financial companies have explored creating a new credit-card code for firearms dealers, similar to how they code restaurants or department stores, according to people familiar with the matter. Another idea would require merchants to share information about specific firearm products consumers are buying, some of the people said.
Such data could allow banks to restrict purchases at certain businesses or monitor them.
http://thehill.com/opinion/civil-rights ... -financial
Unfortunately, this year, many financial institutions have put restrictions on companies in the gun business.
— Over the last few weeks, Intuit has stopped processing credit card payments for all gun-related sales, even when the deals don’t involve firearms. Small businesses have found sales of T-shirts, coffee mugs and gun safety classes being prevented.
— Citigroup, the nation’s fourth-largest bank, announced in March that it would prohibit the use of its financial services for people under age 21 who tried to buy guns. It would also require that all sales had to go through universal background checks.
— Bank of America, the nation’s second-largest bank, announced on Bloomberg TV in April that it would no longer finance the operations for companies that made the most commonly owned semi-automatic rifles. Of course, this means that Bank of America will still be providing financial services to other gun makers.
— In February, First National Bank, the nation’s largest privately owned bank, stopped issuing credit cards with the NRA logo as a result of a coordinated campaign by gun control groups.
— Android Pay and Google Wallet, PayPal, Square, Stripe and Apple Pay have stopped firearm sales using their services.