The "Second Amendment Financial Privacy Act" aims to enhance the privacy of firearm ownership in South Carolina by prohibiting government entities from maintaining records of privately owned firearms and their owners, except in specific circumstances related to criminal investigations. The bill introduces definitions for key terms such as "ammunition," "firearm," "payment card," and "firearm retailer," and establishes that payment card networks and covered entities cannot use merchant category codes to distinguish firearm retailers from other merchants.

Additionally, the bill outlines enforcement mechanisms, granting the Attorney General the authority to investigate violations and seek injunctions against entities that fail to comply with the law. If violations persist after notification, civil fines of up to one thousand dollars per violation may be imposed. The act emphasizes the protection of Second Amendment rights and establishes exclusive remedies for violations, ensuring that the enforcement process is streamlined and focused on safeguarding firearm ownership privacy.