Amends TCA Title 29; Title 45 and Title 47.

This bill prohibits a financial institution, merchant acquiring entity, payment settlement entity, payment card network, payment card issuer, third-party settlement organization, or an entity involved in facilitating or processing a payment card transaction ("entity") from assigning a merchant code to or otherwise classifying a merchant that is a seller of firearms or ammunition separately from a general merchandise retailer or sporting goods retailer.<br /> <br /> PENALTIES<br /> <br /> This bill requires the department of financial institutions to investigate any alleged violations of this bill. Upon finding a violation, the commissioner of financial institutions may take the following actions:<br /> <br /> (1) Assess a civil penalty of no more than $10,000 for each merchant or seller coded or classified in violation of this bill; or<br /> <br /> (2) Bring an action in the chancery court of Davidson County to enjoin a violation of this bill.<br /> <br /> This bill provides that an entity aggrieved by a penalty assessed in accordance with (1) above, may seek judicial review of the penalty. Further, an entity aggrieved by an action brought in accordance with (2) above, is entitled to judicial review.<br />