This bill aims to prohibit financial institutions from requiring the use of firearms codes that differ from general sales codes. It establishes clear definitions related to this prohibition and categorizes any violation of this mandate as an unfair trade practice.

By implementing this legislation, the bill seeks to ensure consistency in the coding of firearms transactions, thereby protecting consumers and promoting fair practices within the financial sector. The inclusion of penalties for violations underscores the seriousness of the mandate and aims to deter financial institutions from imposing differing codes that could complicate or hinder transactions related to firearms.