BOISE, Idaho–Bill related to firearms and ammunition have been introduced in two separate states that would affect credit unions and banks if enacted.
In Idaho, a bill has been introduced in the Idaho legislature that would prohibit the state from depositing public money in most banks or credit unions that boycott firearm companies or several other industries.
House Bill 190 would amend sections 26-2155 and 67-2739, Idaho Code, which deal with the credit unions and banks that the state treasurer designates as qualified state depositories. These amendments would establish a policy that, in exchange for this designation, such institutions must agree not to engage in virtue-signaling boycotts.
Specifically, the bill refers to boycotts targeting an individual or company that "engages in or supports the manufacture, distribution, sale, or use of firearms" or that "engages in or supports the exploration, production, utilization, transportation, sale, or manufacture of fossil fuel-based energy, timber, minerals, hydroelectric power, nuclear energy, or agriculture."
Exceptions Included
The bill does include language with exceptions that allow financial institutions to engage in practices if supported by "a reasonable business purpose" and if such behaviors are "directly related to promoting the financial success or stability of a financial institution, mitigating risk to a financial institution, complying with legal or regulatory requirements, or limiting liability of a financial institution."
Florida Bill Would Fine Card Companies
Separately, credit card companies in Florida could face fines up to $10,000 per violation for tracking firearm and ammunition sales in the Sunshine State under a measure approved by the state Senate.
The Republican-controlled Senate Banking and Insurance Committee voted 7-3 along party lines to approve a bill (SB 214) that would target yet-to-be-enacted plans by some credit card companies to create a separate “merchant category code” for sales at firearm businesses, WUSF reported.
As CUToday.info has reported, the major card associations have been dragged into the political debate around tracking guns as a separate category. Similar four-digit codes are already used to separate purchases and collect data from places such as grocery stores, gas stations, restaurants and bookstores.
Bill sponsor Danny Burgess (R-Zephyrhills) pointed to a Florida prohibition on gun-sale registries and said the bill would prevent data collection.
‘Putting Teeth Behind Law’
“In Florida, we take it very seriously to protect consumers’ rights, gun rights and their right to privacy, and I believe that this MCC (merchant category code) would lead to the creation of a registry in essence, potentially having a chilling effect on constitutional rights,” Burgess said. “We’re basically putting teeth behind current law in Florida, which prevents government and private registries.”
In September, Visa joined Mastercard and American Express in announcing plans to categorize gun shop sales. Gun-control advocates say the move would help track suspicious sales tied to potential mass shootings. Democrats expressed concern the bill could hinder law enforcement efforts to prevent mass shootings, WUSF noted.
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