Legislators in Tennessee aim to prohibit banks from monitoring sales of firearms and ammunition.Legislators in Tennessee aim to prohibit banks from monitoring sales of firearms and ammunition.

Earlier, state GOP lawmakers proposed legislation Wednesday to prevent banks and credit cards from tracking ammunition and gun purchases.GOP state Rep. Todd Warner and state Sen. Joey Hensley have proposed legislation to their partners that would make it an unfair or deceptive business practice for a financial institution to require a gun retailer to use the Firearms Commerce Code.andquot;Financial institutions have created a new credit card merchant category code for ammunition and gun purchases to help identify dangerous gun owners or questionable transactions, according to the Tennessee Star.The process began in 2022 after New York Attorney General Letitia James and California Attorney General Rob Bonta, both Democrats, sent letters to executives at credit card companies like Mastercard and Visa asking them to support the new business code..

The initiative was suspended in March 2023 when payment companies suspended their plans to support the codes, following similar legislation to prevent tracking of licensed ammunition and firearms in red states such as Oklahoma, Texas, Florida and West Virginia.Second Amendment groups such as the National Rifle Association (NRA) and the National Shooting Sports Foundation opposed it.andquot;This is not about tracking, prevention, or some virtuous incentive—it is about creating a national gun registry,andquot; NRA spokesman Lars Dalseide said in an email to CBS MoneyWatch.