Protecting Privacy in Purchases Act
Summary
The Protecting Privacy in Purchases Act would prevent payment card networks from using merchant codes that distinguish firearms retailers from general-merchandise or sporting-goods retailers. This means that when someone purchases firearms or ammunition, the transaction would not be flagged with a code that identifies it as a firearms purchase. The bill has passed committee review and is now eligible for a floor vote in the House. If enacted, the practical effect would be that firearms purchases would appear on credit card statements and in payment processing systems the same way as other retail purchases, without special categorization that could reveal the nature of the transaction to payment processors or other parties with access to merchant code data.
AI-generated summary
Lifecycle of the Bill
Apr 29, 2025 · 14:00
Regulatory Overreach: The Price Tag on American Prosperity
Summary
On April 29, 2025, the House Financial Institutions and Monetary Policy Subcommittee held a hearing titled "Regulatory Overreach: The Price Tag on American Prosperity" to examine three bills addressing financial regulation and consumer privacy. The hearing examined H.R. 2808 (Homebuyers Privacy Protection Act), which limits credit reporting agencies from selling mortgage "trigger leads"—consumer information sold to other lenders without explicit consent; H.R. 1181 (Protecting Privacy in Purchases Act), which prohibits payment card networks from using merchant codes that distinguish firearm retailers; and H.R. 2702 (FIRM Act), which would eliminate "reputational risk" as a factor in federal banking agency supervision. Witnesses included J. Radcliffe from Community Financial Services Bank, Margaret Tahyar from Davis Polk & Wardwell LLP, Sarah Flowers from the Bank Policy Institute, and Graham Steele from Stanford Law School's Rock Center for Corporate Governance. The hearing brought together perspectives from the banking industry, legal experts, and academic scholars to discuss the costs and benefits of financial regulations. The hearing itself does not determine whether these bills will advance; the committee must vote separately to move them forward.
Video
Witnesses(4)
| Name | Position | Links |
|---|---|---|
| Mr. J. RadcliffeCommunity Financial Services Bank | Chairman & Chief Executive Officer | |
| Mrs. Margaret TahyarDavis Polk & Wardwell LLP | Partner, Head of Financial Institutions Group | |
| Ms. Sarah FlowersBank Policy Institute | Senior Vice President, Senior Associate General Counsel | |
| The Honorable Graham SteeleRock Center for Corporate Governance, Stanford Law School | Academic Fellow |
Committee Consideration and Mark-up Session Held
Dec 16, 2025
Dec 16, 2025 · 15:00
Various Measures
Summary
On December 16, 2025, the House Committee on Financial Services held a session to examine various financial services and housing measures. The bills under consideration included H.R. 4130 (Small Business Relief Act), which would exclude certain institutional investors from registration thresholds; H.R. 1078 (Respect State Housing Laws Act), which would eliminate a federal 30-day eviction notice requirement for federally-backed housing; H.R. 6644 (Housing for the 21st Century Act), a bipartisan housing package addressing housing supply and affordability; H.R. 4646 (Whistleblower Protection Act of 2025), extending protections to HUD-funded contracts; H.R. 6552 (Bank-Fintech Partnership Enhancement Act), requiring a study on bank-fintech partnerships; and several other bills addressing banking regulations and rural housing. The committee also considered H.R. 6550 (American FIRST Act), H.R. 6544 (REVIEW Act), H.R. 6536 (Rural Depositories Revitalization Study Act), and H.R. 6547 (Least Cost Exception Act). These bills reflect the committee's focus on reducing regulatory burdens, expanding housing supply, strengthening community banks, and protecting whistleblowers. The hearing did not guarantee advancement of any bills, as they still required committee votes and further legislative action.
Video
Committee Consideration and Mark-up Session Held
Dec 17, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 23.
Dec 17, 2025
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-522.
Feb 25, 2026
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-522.
Feb 25, 2026
