Priscilla Sims Brown sat down with Andrew Ross Sorkin on CNBC's 'Squawk Box' to discuss the approval of the approval of a new merchant category code for stand-alone gun stores and why it's such an important victory in the fight against gun violence.
Amalgamated Bank announced that its application to the International Standards Organization for a new merchant category code (MCC) for gun and ammunition stores was approved. This code is the key to creating new tools that all financial institutions must now use to begin detecting and reporting suspicious activity associated with gun trafficking and mass shootings to the Financial Crimes Enforcement Network, the government agency charged with safeguarding the financial system from illicit use.
Priscilla Sims Brown spoke with Andrew Ross Sorkin at the CNBC Evolve Global Summit on a variety of topics including women's reproductive rights, the American economy and ways financial institutions can help curb gun violence through a unique merchant category code.
If you have a deposit account, loan or investment account with one of the mainstream banks, it’s entirely possible that you’re supporting the manufacture or distribution of guns without even realizing it.
Amalgamated Bank, America’s socially responsible bank, today called on publicly traded gun manufacturer Sturm Ruger to demonstrate a commitment to corporate governance, responsible business practices, and risk management.