New York Metropolis Comptroller Brad Lander speaks throughout a “Defend Democracy” rally, going down on the primary anniversary of the January 6, 2021 assault on the U.S. Capitol, in Brooklyn, New York, U.S., January 6, 2022. REUTERS/Brendan McDermid/File Photograph

Aug 30 (Reuters) – High New York Metropolis and California pension officers need funds processors Visa Inc, (V.N) Mastercard Inc (MA.N) and American Specific (AXP.N) to create a brand new instrument to trace suspicious gun purchases.

Workers for New York Metropolis Comptroller Brad Lander, who oversees pension funds, mentioned he has filed shareholder resolutions at Mastercard and American Specific asking their boards to clarify their views on whether or not so as to add a brand new “service provider class code” for firearms shops.

Lander and a California State Lecturers’ Retirement System portfolio supervisor made an analogous request to Visa, whose deadline for 2023 shareholder proposals has handed.

In Aug. 29 letters to the three corporations seen by Reuters, the pension officers wrote such codes would assist monetary corporations meet obligations to report suspicious purchases, and famous the four-digit codes are already assigned to specialised companies like bowling alleys.

At the moment, “banks and fee networks can’t readily establish gross sales made by standalone gun and ammunition retailers,” the officers wrote.

A Mastercard consultant mentioned it’s reviewing the problem and that it goals to assist “all authorized purchases whereas defending the privateness and selections of particular person cardholders.”

Representatives for Visa and American Specific didn’t instantly remark.

U.S. gun-rights activists say new codes might open the door to unauthorized police surveillance. A global requirements physique would implement code adjustments.

New York Metropolis Mayor Eric Adams, with representatives on pension fund boards, helps requires the brand new codes, a consultant mentioned.

Mass shootings this 12 months together with an April 12 assault in New York’s subway system that left 23 injured have continued a long-running U.S. debate over gun management. learn extra

Whereas nonetheless topic to investor approval, the resolutions mark a brand new tactic for activists who’ve efficiently pressed firearms makers straight in some circumstances. learn extra

However a measure in April asking Mastercard to report on funds involving untraceable “ghost weapons” gained assist from solely 10% of shareholder votes solid.

Reporting by Ross Kerber in Boston; Modifying by Lincoln Feast

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