A New Code for Gun Sales 9/12/22

77% mass shootings in America were committed with guns bought legally, the majority with credit cards. Four years ago in columns for The New York Times, Andrew Ross Sorkin suggested that credit card companies have the power to help spot dangerous patterns in U.S. firearms sales by categorizing gun purchases the same way retailers categorize transactions at hair salons, and movie theaters. Earlier this year Amalgamated Bank, a union-owned U.S. bank driven by social responsibility, proposed that financial institutions use a new merchant code specifically for guns; now, CEO Priscilla Sims Brown discusses the proposal’s success and the decision from Mastercard and Visa to implement that code. Plus, President Biden is looking to curb U.S. chip shipments to China even further, and billionaire activist investor Dan Loeb has changed his mind about Disney–ESPN should stay.

In this episode:

Priscilla Sims Brown, @AmalgamatedBank

Becky Quick @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer: @Kramer_Katie

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