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.