HB1509

House Bill 1509, the 'Arkansas Second Amendment Financial Privacy Act,' prohibits financial institutions and payment card networks from assigning unique merchant category codes (MCCs) to distinguish firearms retailers from other types of retail businesses. The bill specifically prevents the use of codes such as the ISO-approved MCC 5723 for firearm-related transactions within the state. Additionally, it prohibits government entities and individuals from creating or maintaining registries or lists of privately owned firearms or their owners. It provides exceptions for standard business practices like fraud management, dispute processing, and legal compliance, and allows for records of stolen property. Enforcement is granted to the Arkansas Attorney General, who may issue injunctions and seek civil penalties of up to $10,000 for non-compliance with court orders. The bill does not create a private right of action for individuals.