Financial Industry Colluding To Monitor Your Gun Purchase Habits

By Tom Knighton

Few people buy guns with cash. After all, guns tend to be rather pricey, and no one wants to carry that kind of money on their person if they don’t have to. Besides, there are a lot of good reasons to use a card of some type to buy a gun than cash.

However, multiple members of the financial industry got together to look at ways they could monitor your gun purchases.

Banks and credit card companies held informal discussions about identifying transactions involving firearms, The Wall Street Journal reported.

Although the discussions resulted in nothing tangible — and ideas may never come to fruition — ideas tossed would help companies monitor gun purchases, which includes information on buyers, from retailers, the newspaper reported.

Financial companies explored the concept of creating a new credit-card code for firearm dealers, similar to how restaurants or department stores identify their transactions, the newspaper reported. Another idea would require retailers to share info about specific firearm products purchases.

Gun rights advocates have expressed fears that storing such data on gun sales could lead to other nefarious activities by powerful entities. The federal government is already limited in their ability to track them, …Read the Rest

Source:: Bearing Arms