Business

Banks reportedly push plan to track gun purchases

A number of financial institutions are reportedly developing policy proposals that could allow them to keep tabs on firearms purchases in which a credit card is used as payment.

The Wall Street Journal cited sources close to the discussions who indicated any plans to implement such a system are in their infancy.

Among the possible recommendations is the association of a unique purchase code attributed to gun sales. A similar technology is used by credit card companies to track spending at restaurants and elsewhere.

A more labor-intensive proposal would require retailers to send itemized gun-sales reports directly to applicable banks or lenders.

The move is the latest response to increased pressure on companies with ties to gun retailers in the wake of February’s mass shooting at a high school in Parkland, Florida.

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