New York asks credit card companies to reassess risk of gun sales

New York asks credit card companies to reassess risk of gun sales

© Getty Images New York Comptroller Thomas DiNapoli is reportedly encouraging credit card and banking companies associated with the state pension system to consider upgrading the risk of gun transactions. Bloomberg News reported Wednesday that DiNapoli contacted executives last week from Visa, American Express, Mastercard, Bank of America, JPMorgan Chase and other companies to ask them to consider reclassifying gun transactions as high-risk purchases, similar to pornography or illicit drugs. DiNapoli oversees New York state’s $209.1 billion pension fund for public employees. The pension system owns shares of each of the nine companies DiNapoli contacted. He asked the companies to consider implementing systems that could reject purchases of weapons or ammunition. “If gun violence continues unabated in society — public outcry and calls for action may grow and create significant financial risk for the company,” DiNapoli reportedly wrote to Mastercard. DiNapoli’s request comes a couple weeks after Citigroup announced […]

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