This bill amends the federal criminal code to establish a three-day waiting period for certain handgun transfers. Specifically, the bill makes it unlawful for a licensed importer, manufacturer, or dealer to sell or transfer a handgun to an unlicensed individual unless three business days have elapsed since the licensee initiated a background check. Additionally, the bill makes it unlawful for an unlicensed individual to receive a handgun purchased or borrowed from another unlicensed individual unless at least three days have elapsed since the recipient most recently offered to purchase or borrow the handgun.