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NPA Weekly NewsBrief
May 5, 2009  
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"Save My Pawnshop!"
from WAMU 88.5 FM
Buried beneath the bailouts and proposed new regulations comes the rallying cry "Save My Pawnshop!" Back in February, Sen. Richard Durbin introduced Senate Bill 500 - the "Protecting Consumers from Unreasonable Credit Rates Act of 2009." It would cap consumer interest rates at 36 percent. That could spell doom for businesses that make small, short term loans. A movement of pawnshop owners across the country is seeking to raise public awareness with a slogan and a Web site called, "Save My Pawn Shop!" Click here to listen to the report.

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Hard Times and Pawnshops
from Raleigh Metro Magazine
In these hard times, you would think that at least pawnshops are doing well. Actually, traffic did pick up during the recent period of $4 gas. Getting to work was more important than a fancy guitar or an unworn high school class ring. But increased business can be a double-edged sword. More

Some People Blinded by New Gold Rush
from South Carolina Now
The selling of unwanted pieces of jewelry has become popular and profitable in the shadow of difficult economic times, but local police say it also presents unwanted opportunities for residents to be scammed and cheated. More

Pawnshop Owners, Customers Fear Lending Bill
from CBS 11-TV
Several congressional bills aimed at cutting exorbitant interest rates on loans could end up closing pawnshops in the Dallas/Fort Worth area and across the nation. Pawnshop owners say besides putting them out of business, the proposals would force thousands of people to find another place to go for quick cash. More

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Good Times for Owner of Southeastern Connecticut Pawnshop
from The Hartford Courant
Phil Pavone, the owner of A-Z Pawn in Norwich, Conn., uses a loupe to inspect a gold and diamond ring to determine its value for a customer looking to sell it. Pavone is busy these days buying and selling gold and jewelry, power tools and musical instruments. More

As Restrictions Hit Payday Loans, Lenders Change Tactics
from The Virginian-Pilot
For years, payday lenders expanded throughout Virginia, promoting quick cash to borrowers who have a job and a checking account. That's changing in the wake of new state rules that took effect Jan. 1 . More of the store front lenders now are offering larger loans, including car-title loans, that fall outside the scope of state regulation. More

Pawnshop Manager Accused of $35,000 Fraud
from Tampa Bay Online
A pawnshop's 31-year-old assistant manager cost her store more than $35,000 by making fraudulent transactions, Hillsborough County, Fla., deputies say. Deputies arrested Wadna Velazquez-DeJesus of Tampa. She was charged with grand theft and organized fraud. More

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Police Eye Cash for Gold Industry
from WJBK-TV
In an ad run during the Super Bowl, Ed McMahon and MC Hammer showcased the fast-growing business of selling your old gold jewelry for cash by mail. Now, police are cracking down on the business to keep crooks out. More

H&H Pawn Offers More than Expected
from Wilson County News
If you haven't been inside H&H Pawn lately, a fresh visit may be in order. The Floresville, Texas, location houses four businesses under one roof, and there is something for nearly everyone in the family. More

North Texas Town Looks at Interest from Payday Lenders
from the Associated Press via The Dallas Morning News
In a step that illustrates a growing fight against predatory practices by payday lenders, officials in the city of Irving, Texas, are researching whether state law would allow the city to cap interest rates charged by such lenders. The move by Irving is also a sign of the growing frustration local leaders have with state lawmakers, who they say have allowed the industry to operate without oversight. More

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VideoBrief
Cash For Gold
from 4029-TV
An investigative report that will tell you where you can get the best return for your unwanted gold jewelry. More

Miami Springs, Fla., to Consider Allowing Pawnshops
from The Miami Herald
Despite the fact that Miami Springs city code prohibits pawnshops, the council agreed last week to consider amending the code after a pawnshop broker pitched the business as a possible deterrent to crime and a solution to financial troubles. More

 

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