National Pawnbrokers Association members take to the Hill in Washington, DC, to meet with members of U.S. Congress and their staffs.
“My mentor, who introduced me to the jewelry and pawn industry, passed away unexpectedly this past February. His name was James Martin (Uncle Jimmy to me) and was from Sarasota, FL, formerly of Crown Point, IN.”
Oregon is home to a number of recognizable names: Oregon Ducks, Oregon State Beavers, Mount Hood, Pendleton, and a five-store pawn operation called All That Glitters Jewelry and Loans.
On May 11, 2018, banks and credit unions will be required to collect “beneficial ownership” information about “legal entity customers” seeking to open new accounts. This new requirement does not affect existing accounts of “legal entities.”
Recent inquiries from our members indicate that Equifax has now embarked on a direct calling campaign to pawnbrokers marketing their Military Lending Act non-Social Security Number product.
The pawn industry had a big day last Thursday, February 15, 2018, on Capitol Hill in Washington, DC. The House Financial Institutions and Consumer Credit Subcommittee conducted a hearing entitled “Examining De-risking and its Effect on Access to Financial Services”.
The House Financial Services Committee hearing on February 15, 2018, titled “Examining De-risking and its Effect on Access to Financial Services,” was a positive step forward for the NPA and pawnbrokers. The hearing covered the issue of discontinuance and the related impact to small business.
In this memorandum, we answer four basic questions about the ability of pawnbrokers to take virtual currency in payment for goods or services, or to use them to pay for goods or services. We will address some issues that might arise in accepting virtual currencies as collateral for pawn transactions in a second document to follow.