New Zealand’s acting Prime Minister Winston Peters. Photo: Hagen Hopkins/Getty Images

New Zealand's government introduced legislation Monday that would ban the type of guns used in the Christchurch attacks — and acting Prime Minister Winston Peters warned defiant gang members: You will hand them over.

The latest: The bill passed its first reading Tuesday afternoon local time with all but 1 of the 120 lawmakers voting in favor of the legislation. Police Minister Stuart Nash said during the debate gun-ownership was a privilege, not a right.

Details: Gang members told New Zealand media they wouldn't hand back their guns. But Peters said: "Yes, you will be handing them back. It's not a matter of cooperation, it's a matter of being obliged to conform with the law of this country, or to be operating illegally."

What they're saying: "Will gangs get rid of their weapons? No. Because of who we are, we can't guarantee our own safety," Sonny Fatu, president of the Waikato branch of the Mongrel Mob, told Stuff. "The attacks between our organisations are gang-on-gang, they do not involve the non-gang members." The gangs said they would never attack innocent people, as happened in the mosque attacks.

What's next? The bill has bipartisan support, and the new law is expected to come into effect April 12 — less than a month after the March 15 attacks. The government has established a buyback scheme costing up to NZ$200 million ($136 million).

  • People will have until Sept. 30 to hand back their military-style, semi-automatic weapons and assault rifles.
  • Nash said anyone who didn't hand back the weapons could face 5 years in jail.

Go deeper: New Zealand bans all semi-automatic weapons and assault rifles

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Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.