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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. 

“Amalgamated Bank stands in strong support of the Inflation Reduction Act.  The proposal under consideration will provide important and long-term relief to rising costs of living, move us forward on achieving a safe climate and bring more equity to the tax code.

Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) today announced the appointment of Meredith Miller as an independent director to the Company’s Board of Directors, effective immediately.

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.

“This is a devastating and dangerous blow for millions of Americans, particularly underserved communities, people of color, rural families, LGBTQ individuals and immigrants,” Priscilla Sims Brown, Amalgamated Bank CEO