NSSF Applauds Alabama Gov. Kay Ivey for Signing Second Amendment Financial Privacy Act

NSSF Applauds Alabama Gov. Kay Ivey for Signing Second Amendment Financial Privacy Act

WASHINGTON, D.C. -(FirearmsGuide.com)- NSSF®, The Firearm Industry Trade Association, applauds Alabama Gov. Kay Ivey for signing SB 281, the Second Amendment Financial Privacy Act, into law last week. This NSSF-supported law protects the privacy and sensitive financial information of people purchasing firearms and ammunition in The Yellowhammer State. With Alabama, there are now 15 states with laws that protect the Second Amendment financial privacy of their citizens.

The law prohibits financial institutions from requiring the use of a firearm code, also known as a Merchant Category Code (MCC), from being assigned to firearm and ammunition purchases at retail when using a credit card. The law also forbids discriminating against a firearm retailer as a result of the assigned or non-assignment of a firearm code and disclosing the protected financial information. Additionally, the law prohibits keeping or causing to be kept any list, record or registry of private firearm ownership.

“Governor Kay Ivey’s signing of the Second Amendment Financial Privacy Act is a necessary tool to protect the Second Amendment and privacy rights of the citizens of Alabama from unlawful intrusion on their private purchases when purchasing firearms and ammunition with a payment card,” said Lawrence G. Keane, NSSF Senior Vice President & General Counsel. “Alabamians won’t need to worry that ‘woke’ Wall Street banks, credit card companies and payment processors will collude with government entities to spy on their private finances for exercising their rights. No American should fear being placed on a government watchlist simply for exercising their Constitutionally-protected rights to keep and bear arms.”

NSSF worked closely with Alabama legislators to protect private and legal firearm and ammunition purchases from political exploitation. The Second Amendment Financial Privacy Act is designed to protect the privacy of lawful and private firearm and ammunition purchases from being abused for political purposes by corporate financial service providers and unlawful government search and seizure of legal and private financial transactions.

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) admitted to U.S. Sen. Tim Scott (R-S.C.) in a letter that it violated the Fourth Amendment rights of law-abiding citizens that protect against illegal search and seizure when it collected the credit card purchase history from banks and credit card companies of individuals who purchased firearms and ammunition in the days surrounding Jan. 6, 2020. Treasury’s FinCEN had no probable cause, and sought the information without a warrant, to place these law-abiding citizens on a government watchlist only because they exercised their Second Amendment rights to lawfully purchase firearms and ammunition.

The idea of a firearm-retailer specific MCC was borne from antigun New York Times’ columnist Andrew Ross Sorkin and Amalgamated Bank, which has been called “The Left’s Private Banker” and bankrolls the Democratic National Committee and several antigun politicians. Amalgamated Bank lobbied the Swiss-based International Organization for Standardization (ISO) for the code’s creation. NSSF has called on Congress to investigate Amalgamated Bank’s role in manipulating the ISO standard setting process for political purposes.

Sorkin admitted creating a firearm-retailer specific MCC would be a first step to creating a national firearm registry, which is forbidden by federal law.

Alabama joins a growing list of states that are standing against the invasion of financial privacy when exercising Second Amendment rights, including Georgia, Tennessee, Iowa, Kentucky, Wyoming, Indiana, Utah, Florida, Idaho, Mississippi, Montana, North Dakota, Texas and West Virginia. These states passed laws protecting citizens’ Second Amendment privacy. Other states are considering similar legislation. U.S. Sen. Bill Hagerty (R-Tenn.) introduced S. 4075, the NSSF-supported Protecting Privacy in Purchases Act in the Senate. U.S. Rep. Elise Stefanik (R-N.Y.) introduced H.R. 7450, with the same title in the U.S. House of Representatives. Only two states – California and Colorado – have laws requiring payment card processors to report purchases by a firearm retailer-specific MCC.

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