The Second Amendment Financial Privacy Act aims to enhance the privacy of firearm owners by prohibiting governmental agencies from maintaining lists or registries of privately owned firearms and their owners. The bill defines key terms related to firearms, financial institutions, and payment card transactions, and establishes that financial institutions and payment card networks cannot decline transactions involving firearm retailers based solely on the assignment of a firearms code. However, exceptions are made for compliance with state or federal laws, customer requests, and fraud or credit controls.

Additionally, the bill grants the Attorney General the authority to investigate violations and enforce the act, including the ability to seek injunctions and impose civil fines for non-compliance. The act specifies that the remedies provided are exclusive, and it will take effect on October 1, 2024. The bill includes provisions that allow for the negotiation of firearms codes and the restriction of their use in certain circumstances, ensuring that financial institutions can still manage risks associated with transactions.

Statutes affected:
Engrossed: 5-17-1
Enrolled: 5-17-1