A Year After Credit Card Companies Delayed Implementation of Gun Merchant Category Code, More Action Needed As U.S. Gun Deaths Top 2,900 This Year

March 8, 2024

New research from Guns Down America shows that credit card abuse fuels gun violence and trafficking

WASHINGTON — Tomorrow marks the one-year decision by major credit card companies to pause the implementation of a new merchant category code for firearm stores. In response, Guns Down America’s Executive Director Hudson Munoz released the following statement:

“A year ago, major credit card companies reneged on their obligation to implement a new merchant category code for gun stores—one of the few merchants uniquely exempt from this basic classification standard as of current. Now, American Express, Visa and Mastercard took the much-needed first step in agreeing to make the code available in California where it is required by law, but it’s not enough. We know from Guns Down America’s latest research that credit cards have fueled gun-related crimes across the country, from deadly mass shootings to gun trafficking. For the sake of our communities and our financial protection, credit card companies need to make the gun code available everywhere.”

Since the payment networks announced their decision to pause implementation last March, movement on the issue reached Congress with the introduction of the Identify Gun Stores Act by Rep. Frost (D-FL) and Rep. Moskowitz (D-FL) and a dueling bill from Rep. Stefanik (R-NY) last week. This came in the wake of American Express, Visa and Mastercard publicly agreeing to move ahead with the gun code in California, where state law requires implementation. While state legislatures are currently split on implementation, Reps. Frost and Moskowitz’s bill seeks to resolve the conflict on state laws, a policy recommendation highlighted in the Gun Store Exception report by Guns Down America.