The Second Amendment Financial Privacy Act aims to protect the privacy of firearm owners and retailers by prohibiting governmental agencies from maintaining lists or registries of privately owned firearms or their owners. The bill also restricts financial institutions from using firearms codes to distinguish firearm retailers from other merchants in payment card transactions, thereby preventing the decline of transactions based solely on these codes. Exceptions are made for compliance with state or federal laws, customer requests, and fraud or credit controls. The act defines key terms such as "firearm," "firearm retailer," and "payment card transaction," and establishes the Attorney General's authority to investigate and enforce violations of the act.

Additionally, the bill outlines civil remedies for violations, including the potential for civil fines up to $1,000 for non-compliance with injunctions issued by the court. The Attorney General is tasked with investigating allegations of violations and providing written notice to the offending parties, who must cease the violation within 60 business days. The act is set to take effect on October 1, 2024.

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