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119-hr-8694119th CongressWALLET
Assault Weapon Financing Accountability Act
Sponsored By: Representative Larson, John B. [D-CT-1]
Introduced
Summary
Ban on Buy Now, Pay Later financing for semiautomatic assault weapons. This bill would bar Buy Now, Pay Later loans that are primarily for personal, family, or household purposes and payable in four or fewer installments with no down payment from being used to buy semiautomatic assault weapons. It would also expand federal definitions of semiautomatic pistols, rifles, shotguns, frames, receivers, and related parts to specify which weapons and components are covered.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Fines for Buy Now Pay Later Violations
If enacted, the bill would impose civil penalties of $100,000 for each violation of the BNPL ban. A lender who makes a prohibited Buy Now, Pay Later loan would face $100,000 per occurrence. A dealer, manufacturer, or importer who knowingly accepts BNPL funds would also face $100,000 per occurrence. Penalties would be assessed by the Attorney General after notice and an opportunity for a hearing. These penalties would take effect upon enactment.
Ban Buy Now Pay Later Guns
If enacted, this bill would make it illegal to use a Buy Now, Pay Later loan to buy a semiautomatic assault weapon. It would also bar dealers, manufacturers, and importers from knowingly accepting BNPL funds from unlicensed buyers. The bill would add detailed, feature-based definitions of "semiautomatic assault weapon" and related parts. It would cover rifles or pistols with fixed feeding devices that accept more than 10 rounds. It would cover shotguns with fixed feeding devices that accept more than 5 rounds and belt-fed semiautomatic firearms. It would list features like detachable magazines, pistol grips, folding stocks, threaded barrels, and barrel shrouds. A Buy Now, Pay Later loan would mean a loan for personal, family, or household use paid in four or fewer installments with no down payment. All rules would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Larson, John B. [D-CT-1]
CT • D
Cosponsors
Rep. Frost, Maxwell [D-FL-10]
FL • D
Sponsored 5/7/2026
Rep. Wilson, Frederica S. [D-FL-24]
FL • D
Sponsored 5/7/2026
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 5/7/2026
Rep. Peters, Scott H. [D-CA-50]
CA • D
Sponsored 5/7/2026
Rep. Tlaib, Rashida [D-MI-12]
MI • D
Sponsored 5/7/2026
Rep. Cleaver, Emanuel [D-MO-5]
MO • D
Sponsored 5/7/2026
Rep. Lynch, Stephen F. [D-MA-8]
MA • D
Sponsored 5/7/2026
Rep. Doggett, Lloyd [D-TX-37]
TX • D
Sponsored 5/7/2026
Rep. Johnson, Henry C. "Hank" [D-GA-4]
GA • D
Sponsored 5/7/2026
Rep. Pettersen, Brittany [D-CO-7]
CO • D
Sponsored 5/7/2026
Rep. Brownley, Julia [D-CA-26]
CA • D
Sponsored 5/7/2026
Rep. Menendez, Robert [D-NJ-8]
NJ • D
Sponsored 5/14/2026
Rep. Amo, Gabe [D-RI-1]
RI • D
Sponsored 5/14/2026
Rep. Neguse, Joe [D-CO-2]
CO • D
Sponsored 5/14/2026
Rep. Gottheimer, Josh [D-NJ-5]
NJ • D
Sponsored 5/14/2026
Rep. Goldman, Daniel S. [D-NY-10]
NY • D
Sponsored 5/19/2026
Rep. Kennedy, Timothy M. [D-NY-26]
NY • D
Sponsored 6/8/2026
Rep. Smith, Adam [D-WA-9]
WA • D
Sponsored 6/8/2026
Rep. Craig, Angie [D-MN-2]
MN • D
Sponsored 6/8/2026
Rep. Latimer, George [D-NY-16]
NY • D
Sponsored 6/8/2026
Rep. Carson, André [D-IN-7]
IN • D
Sponsored 6/25/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov