A big Thank You once again to our members that traveled to Washington and participated in NPA’s Annual Legislative Conference on April 30th. As we discussed then, NPA’s Team GRC continues working on the bank discontinuance issue, as well as following additional developments that could affect pawnbrokers. This Content is for Members Only
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.