Refreshing perspective: MasterCard CEO says it's not their place to limit gun sales

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https://www.paymentssource.com/arti...its-not-the-companys-place-to-limit-gun-sales

Mastercard Inc. Chief Executive Officer Ajay Banga said it’s not his company’s place to put limits on firearm sales. In fact, it doesn’t even have the information it needs to stop such purchases.

“I actually don’t know whether you’re buying a gun or a diaper in a store,” Banga said at an Economic Club of New York event on Tuesday, adding that Mastercard doesn’t receive information on individual items purchased at a retailer. It would be difficult for Mastercard “to turn off the acceptance of payments at a Walmart that sells bullets and diapers. I don’t know how to do it — I actually don’t know how to do it.”

Banga’s company also has been criticized by some investors because it allows its cards to be used for payments on websites run by such extremist groups as League of the South, Proud Boys and Stormfront. Mastercard is recommending investors vote against a shareholder proposal that the company’s board form a committee to monitor such relationships.

Banga said Tuesday he doesn’t believe personal beliefs should dictate how he operates his company’s network. While he personally doesn’t like the proliferation of gun ownership in the U.S., shareholders should lobby to change laws governing those sales rather than going after Mastercard, he said.

“This idea that somehow a few people can decide what the rest of society should be allowed to do, or not, even if it’s currently legal, I find that an interesting conundrum to discuss,” Banga said. “Should I allow cards to be used to buy cigarettes? What about alcohol? What about contraceptive devices? Where would you like the line to be drawn, based on whose interpretation of what’s acceptable and not?”
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Glad to hear it.

First time any of the cards I hold refuse to process a legal transaction will be when I pay them off and close that account.

So far, hasn't happened to me personally, but who knows in the future.
 
The only card I have right now is a Home Depot one. I used an 18 months same as cash promotion to buy a riding mower. I have been thinking about getting a mainstream credit card to hold just in case something comes up. I guess I may look into getting a Mastercard.
 
That CEO sees the pitfalls. It's the same reason manufacturers of other products watch closely the lawsuits against gun manufacturers. Ford, GM, Chrysler, etc know that if there is success against gun manufacturers they can very easily be next-and they are perceived to have far deeper pockets.
 
The "progressives" have a bt of a campaign on to "force" banks, card, and payment services to deny service to "right wing hate groups." Said progressives include in that anyone to the political right of "yellow dog" (d), so, centrists need to come jjoin their brethren druges politically, or pay cash somehow.

These frothing at the mouth types apparently want all lending institutions to insist on proof of political "purity" or be denied any services at all. (Yeah, gee, these folks are not the best constitutionalists in the first place, so the fact that such practices would be illegal in the US is of no consequence to them.)

And, while we can all laugh at the wacky antics of a fringe minority of a minority. But, such groups have actually gotten concessions (if, at present, just words to the effect) from applePay and GooglePay to deny funding to "right wing extremist" groups.

However, it is not much of a stretch to see these efforst turned upon other people deemed politically repugnant--like legal gun owners.

So, we must remain ever vigilant to the antics of the kooks and nutcases.
 
I use credit cards as little as possible, preferring cash whenever I can. The CEO is antigun. He is just trying to avoid a foolish business decision. This decision wouldn't make me rush to get a Mastercard, nor would it make me jump ship for someone else.
 
Slotback said:
That CEO sees the pitfalls. It's the same reason manufacturers of other products watch closely the lawsuits against gun manufacturers. Ford, GM, Chrysler, etc know that if there is success against gun manufacturers they can very easily be next-and they are perceived to have far deeper pockets.
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This is the truth right here.

I have never understood why companies make political stands/statements. All you are doing is reducing your potential customer base.
 
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CapnMac said:
The "progressives" have a bt of a campaign on to "force" banks, card, and payment services to deny service to "right wing hate groups." Said progressives include in that anyone to the political right of "yellow dog" (d), so, centrists need to come jjoin their brethren druges politically, or pay cash somehow.

These frothing at the mouth types apparently want all lending institutions to insist on proof of political "purity" or be denied any services at all. (Yeah, gee, these folks are not the best constitutionalists in the first place, so the fact that such practices would be illegal in the US is of no consequence to them.)

And, while we can all laugh at the wacky antics of a fringe minority of a minority. But, such groups have actually gotten concessions (if, at present, just words to the effect) from applePay and GooglePay to deny funding to "right wing extremist" groups.

However, it is not much of a stretch to see these efforst turned upon other people deemed politically repugnant--like legal gun owners.

So, we must remain ever vigilant to the antics of the kooks and nutcases.
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Jamie Dimon, the CEO of Chase, totally shut up whichever Dem was questioning him about Chase financing gun manufacturers at the recent hearing by saying the manufacturers provide the needs of our armed forces and first responders, who Chase strongly supports.
 
It’s fine, but both Banga and Chases answers weren’t as straightforward as I’d like.

For Banga, “I don’t know how to do it” should have been “it’s their damn money”

For Chase “They make guns for cops, and we support cops” should have been “We are a country of laws and we support the Bill of Rights!”
 
Kaybee said:
It’s fine, but both Banga and Chases answers weren’t as straightforward as I’d like.

For Banga, “I don’t know how to do it” should have been “it’s their damn money”

For Chase “They make guns for cops, and we support cops” should have been “We are a country of laws and we support the Bill of Rights!”
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It depends if you want ideological purity or you want to shut up the talking idiot.
 
Slotback said:
That CEO sees the pitfalls. It's the same reason manufacturers of other products watch closely the lawsuits against gun manufacturers. Ford, GM, Chrysler, etc know that if there is success against gun manufacturers they can very easily be next-and they are perceived to have far deeper pockets.
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That's already been tried. A good thirty years ago, a Pontiac dealer sold a Firebird to a high school kid who worked part time for them washing cars. The kid went joy riding with a buddy and wrecked the car at over 100 mph killing the buddy. The buddy's parents sued the driver's parents, the dealer and General Motors. They blamed the dealer for selling the car to an irresponsible kid and GM for building a car with that much performance. GM settled out of court. I expect they didn't want to risk a jury verdict which would set a precedent.
 
Kendahl said:
That's already been tried. A good thirty years ago, a Pontiac dealer sold a Firebird to a high school kid who worked part time for them washing cars. The kid went joy riding with a buddy and wrecked the car at over 100 mph killing the buddy. The buddy's parents sued the driver's parents, the dealer and General Motors. They blamed the dealer for selling the car to an irresponsible kid and GM for building a car with that much performance. GM settled out of court. I expect they didn't want to risk a jury verdict which would set a precedent.
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Slightly off-topic, but a Google search failed to find this specific story, at least within the first few pages. I suspect this is one of those apocryphal stories that everyone has heard the generalities of, but never the specifics. Sort of like the 300mpg carburetor.

I would be interested in knowing the name of the dealer and the victim, if you have them.
 
old lady new shooter said:
? I thought that relationship was discontinued?
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Not as of today (5/16).
Last night, I received a strange email that looked like it came from my satellite service. This email said the card they were using to bill me was due to expire in 15 days. I didn't read the rest as I figured the institution would have contacted me if it was that close. Lo & behold, this NRA card has over 4 months to go so I called the issuer this morning to confirm this. I also asked when they might be letting me know to renew and was told that they will send out a new card about 1 month before. The CSR also confirmed that there is no intention to change that "NRA branded" card. We theorized that that email might have been a "fishing expedition". Unfortunately, I didn't think to save the email so I could check the "headers" or even re-read it to see if the body of the letter seemed as weird as the headline on it.
Whatever. At least I didn't click on anything in that email.
 
Elkins45 said:
Slightly off-topic, but a Google search failed to find this specific story, at least within the first few pages. I suspect this is one of those apocryphal stories that everyone has heard the generalities of, but never the specifics. Sort of like the 300mpg carburetor.

I would be interested in knowing the name of the dealer and the victim, if you have them.
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It might have been so long ago that there might be only a "paper" record of this incident and it never got made into a digital record.
Over 45 years ago, while I was in high school, there was a story about a local student that was "T-boned" on the driver's side and killed because his "seat" belt (lap only back then) cut him in half and his torso was in the passenger's seat. Around that same time, another student in our HS lost control on a rain-slicked road and went sideways into a tree on the passenger side. His lap belt also cut him nearly in half, but he was still in the driver's seat. This is two of the reasons I despise seat belts of any kind.
 
Elkins45 said:
I would be interested in knowing the name of the dealer and the victim, if you have them.
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Too long ago for me to remember such details. Time frame was late 1970s or 1980s. Probable source was Car & Driver or, maybe, Road & Track rather than the internet. I believe the story mentioned the name of the dealer but I don't remember it.

To see how much information about long ago traffic accidents is retained on the internet, I searched for a couple of local accidents with which I was already familiar:
  • I was able to find a court of appeals decision about an early 1990s accident in which two young guys in a Fiat X1/9 ran off the road. Because the passenger's injuries turned him into a quadriplegic, his family sued Fiat claiming that the X1/9 was inherently too dangerous to be sold to the public. No news stories about the accident itself.
  • I failed to find anything about an accident in the 1980s in which an airbag turned a toddler into a quadriplegic. The van, in which he was riding unrestrained in the front passenger seat, t-boned a sedan that ran a red light. The family sued the van manufacturer claiming that the airbag was the cause of the child's injuries.
 
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