H.R. 1224, the Protecting the Second Amendment in Financial Services Act, would prohibit banks, credit card companies, payment processors, and other financial entities from using merchant category codes that separately identify firearms or ammunition retailers. The bill affects any company involved in processing credit card transactions, including major payment networks and card issuers. The legislation contains no specific funding requirements or implementation timeline beyond the prohibition itself. The bill was introduced in February 2025 and referred to the House Committee on Financial Services. Supporters argue this protects Second Amendment rights by preventing financial companies from tracking gun and ammunition purchases, while critics may contend it could limit fraud detection and regulatory oversight in the firearms industry.
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