Assault Weapon Financing Accountability Act

The Assault Weapon Financing Accountability Act prohibits the use of "Buy Now, Pay Later" loans to purchase semiautomatic assault weapons. This ban applies to both lenders offering these short-term credit products and dealers who accept such loans for firearm sales. The bill defines "semiautomatic assault weapons" based on specific physical features like pistol grips, forward grips, and high-capacity magazines, and sets a civil penalty of $100,000 for violations by lenders or sellers.