I 
117TH CONGRESS 
2D SESSION 
H. R. 9686 
To amend title 18, United States Code, to prohibit the making of short- 
term, Buy Now, Pay Later loans for the purchase of semiautomatic 
assault weapons. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 22, 2022 
Mr. MALINOWSKI (for himself and Mr. LARSON of Connecticut) introduced the 
following bill; which was referred to the Committee on the Judiciary 
A BILL 
To amend title 18, United States Code, to prohibit the mak-
ing of short-term, Buy Now, Pay Later loans for the 
purchase of semiautomatic assault weapons. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Assault Weapon Fi-
nancing Accountability Act’’. 
SEC. 2. BUY NOW, PAY LATER LOANS PROHIBITED FOR 
SEMIAUTOMATIC ASSAULT WEAPON SALES. 
(a) BUY NOW, PAY LATER LOANS PROHIBITED FOR 
SEMIAUTOMATIC ASSAULT WEAPON SALES.—Section 922 
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of title 18, United States Code, is amended by adding at 
the end the following: 
‘‘(aa) BUY NOW, PAY LATER LOANS FOR SEMIAUTO-
MATIC ASSAULT WEAPONS.— 
‘‘(1) LOANS.—It shall be unlawful for any per-
son, in or affecting interstate or foreign commerce, 
to offer a Buy Now, Pay Later loan to an individual 
to purchase a semiautomatic assault weapon. 
‘‘(2) DEALERS
ACCEPTING
BUY
NOW, PAY 
LATER LOANS.—It shall be unlawful for any dealer, 
in or affecting interstate or foreign commerce, to 
knowingly accept funds obtained by an individual 
through a Buy Now, Pay Later loan for such indi-
vidual to purchase a semiautomatic assault weapon. 
‘‘(3) BUY NOW, PAY LATER LOAN DEFINED.— 
For the purposes of this subsection, the term ‘Buy 
Now, Pay Later loan’ means a loan— 
‘‘(A) made primarily for personal, family, 
or household purposes; and 
‘‘(B) payable in four or fewer installments 
not including a down payment.’’. 
(b) PENALTIES RELATING TO BUY NOW, PAY LATER 
LOANS FOR SEMIAUTOMATIC WEAPON SALES.—Section 
924 of title 18, United States Code, is amended by adding 
at the end the following: 
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‘‘(q) PENALTIES RELATING
TO BUY NOW, PAY 
LATER LOANS FOR SEMIAUTOMATIC WEAPON SALES.— 
‘‘(1) PERSONS OFFERING BUY NOW, PAY LATER 
LOANS.—With respect to each violation of section 
922(aa)(1) by a person, such person shall be, after 
notice and opportunity for hearing, assessed a civil 
penalty of $100,000 by the Attorney General. 
‘‘(2) DEALERS
ACCEPTING
BUY
NOW, PAY 
LATER LOANS.—With respect to each violation of 
section 922(aa)(2) by a dealer, such dealer shall be, 
after notice and opportunity for hearing, assessed a 
civil penalty of $100,000 by the Attorney General.’’. 
(c) DEFINITIONS.—Section 921(a) of title 18, United 
States Code, is amended by adding at the end the fol-
lowing: 
‘‘(38) The term ‘semiautomatic pistol’ means 
any repeating firearm, other than a shotgun or rifle, 
that— 
‘‘(A) utilizes a portion of the energy of a 
firing cartridge to extract the fired cartridge 
case and chamber the next round; and 
‘‘(B) requires a separate pull of the trigger 
to fire each cartridge. 
‘‘(39) The term ‘semiautomatic shotgun’ means 
any repeating shotgun that— 
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