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Ban on 'Buy Now, Pay Later' Loans for Assault Weapons

This bill aims to prevent the purchase of semi-automatic assault weapons using popular 'Buy Now, Pay Later' loans. This means individuals interested in such weapons will not be able to use this financing method, potentially affecting the accessibility of these weapons for some citizens. It also introduces financial penalties for companies offering such loans and dealers who accept them.
Key points
Prohibits the use of 'Buy Now, Pay Later' (BNPL) loans for purchasing semi-automatic assault weapons.
Companies offering BNPL loans for assault weapons and dealers accepting such payments will face civil penalties of $100,000 per violation.
The bill defines what constitutes a 'semi-automatic assault weapon,' covering a wide range of rifles, pistols, and shotguns with specific features.
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Expired
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Additional Information
Print number: 117_HR_9686
Sponsor: Rep. Malinowski, Tom [D-NJ-7]
Process start date: 2022-12-22
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Assault Weapon Financing Accountability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9686.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-22.

What are the main provisions?

Key points include:

  • Prohibits the use of 'Buy Now, Pay Later' (BNPL) loans for purchasing semi-automatic assault weapons.
  • Companies offering BNPL loans for assault weapons and dealers accepting such payments will face civil penalties of $100,000 per violation.
  • The bill defines what constitutes a 'semi-automatic assault weapon,' covering a wide range of rifles, pistols, and shotguns with specific features.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Malinowski, Tom [D-NJ-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on the Judiciary.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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