HR1224-119

1. Short title This Act may be cited as the Protecting the Second Amendment in Financial Services Act.

2. Merchant category code limitations with respect to firearm merchants Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by inserting after subsection (p) the following: A covered entity may not use a merchant category code that separately identifies firearms merchants or ammunition merchants. For the purposes of this subsection, the term covered entity means any entity— involved in facilitating or processing a credit card transaction, including a bank, an acquirer, payment card network, or payment card issuer; or otherwise participates in the authorizing, clearing, or settling of a credit card transaction. (q)Merchant category code limitations with respect to firearm merchants (1)In generalA covered entity may not use a merchant category code that separately identifies firearms merchants or ammunition merchants. (2)Covered entity definedFor the purposes of this subsection, the term covered entity means any entity— (A)involved in facilitating or processing a credit card transaction, including a bank, an acquirer, payment card network, or payment card issuer; or (B)otherwise participates in the authorizing, clearing, or settling of a credit card transaction..