An Act To Prohibit Financial Institutions From Using Merchant Category Codes To Identify Or Track Firearm Purchases Or Disclose Firearm Purchase Records

This bill prohibits financial institutions (like banks and payment networks) from using merchant category codes (MCCs) to identify, track, or disclose transactions involving firearm purchases, firearm accessories, or ammunition. It specifically bans institutions from labeling or linking payment card transactions to firearms dealers or firearm-related sales through codes or other indicators. The law also prevents financial institutions from disclosing protected financial information about firearm purchases to any entity outside of processing the transaction itself. This directly affects banks, credit unions, payment networks, and firearm dealers accepting card payments in Maine.