.SenWarren urges banks to create new regulations for gun retailers
The lawmakers asked several top credit card companies, including Mastercard, Visa, and American Express, to create a new MCC, merchant category code, for gunmakers despite pushback from the companies in the past. Warren and Dean argued the MCC would"save lives."“Mass shooters have repeatedly financed deadly massacres using credit cards, and bank CEOs need to step up to save lives,” Warren said after sending letters to several CEOs.
The lawmakers cited the 2012 Aurora, Colorado, movie theater shooting in which the gunman charged $11,000 worth of guns and other material to his Mastercard as an example of credit cards' role in mass shootings.
Warren and Dean had 26 other Democratic lawmakers sign on to their letter to the companies and have requested responses from Mastercard, Visa, and American Express by no later than Sept. 14.
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