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Operation choke point moves to change what types of legal businesses banks will interact with
PYMNTS.com
In the wake of a decision by the Ohio Supreme Court, Ohio Senator Sherrod Brown is calling on the CFPB to ramp up its enforcement on Payday lenders, noting that the CFPB's robust authority to regulate banks and "bank like" entities give them a clear responsibility to bring additional scrutiny to the market.
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Pawnshops may not fit stereotype
The Frederick News-Post
Pawnshops traditionally have a shady reputation, but as pawnbroker Peter McDonald likes to point out, his customers come inside from Mercedes-Benz, SUVs, pickups, BMWs and minivans alike. "For so many years, people thought we dealt with junk, that we were just old guys behind bars, smoking cigarettes," said McDonald, owner of Frederick Jewelry and Loan in Maryland. "And that's not the case." The best part of working at a pawnshop, he said, is being able to help people in need.
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Detention officer pawns his Arizona U.S. Marshal's Service gear for $90, gets 5 years' probation
Phoenix New Times
Kyle Yocom's detention-officer job for the Arizona U.S. Marshal's Service didn't pay enough — for him, anyway. The once-supervisor for a detention unit at a federal courthouse pawned body armor worth about a thousand bucks and other gear, netting $90. He was was given five years' probation after pleading guilty to a federal misdemeanor count of theft of public money or property.
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Americans are buying fewer guns
CNN Money
Smith & Wesson posted a weak forecast for one simple reason: Americans are buying fewer guns. Shares of the gunmaker plunged nearly 10 percent as it dawned on investors that the once high-flying gun industry is coming down to Earth.
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Police name suspect in theft of guns from Missoula, Montana, pawnshop
The Missoulian
Missoula, Montana, police are searching for a homeless man who reportedly stole several guns from a downtown Missoula pawnshop in the early morning of June 6. Adam Virgil Page, 37, is still at large and could be armed and dangerous, police report.
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Rolex for casino cash fuels Singapore pawnshop growth
Bloomberg Businessweek
Yeah Lee Ching recalls when a lady walked into her pawnshop in Singapore and pledged a $10,000 diamond-studded gold Rolex watch to bankroll casino spending. She never came back for her jewelry. Pawnbrokers are proliferating across Singapore as gamblers seeking short-term loans add to demand for quick cash from people struggling to make ends meet in the world's most expensive city.
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$100,000 in diamonds stolen from Columbia, South Carolina, jewelry store
The State
Columbia Police in South Carolina released surveillance photos of four suspects sought in the midday theft of $100,000 in diamonds from Moseley's Diamond Showcase. At least three suspects - two women and a man - diverted the attention of store employees by pretending to be customers while the fourth suspect slipped into a restricted area of the store and took diamonds from the open safe.
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Great Read Mark Hall-Patton, expert on TV's 'Pawn Stars,' is the real deal
Los Angeles Times
The gray-bearded man in the red shirt and wide-brimmed Amish hat wades into the crowd outside the Gold & Silver Pawn Shop, squinting into the noon-hour light. Suddenly, the fans are upon him. They know their quarry on a first-name basis.
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You need a plan to retire before you plan to retire
MarketWatch
Don't forget about "Plan B." One of the most important "aha" moments I communicate to clients when we're doing retirement income planning is the following: You're not going to retire when you plan on retiringm says Robert Klein, founder and president of Retirement Income Center, a retirement income planning firm located in Newport Beach, Calif. You're probably going to retire earlier.
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Natural fancy colored diamonds: Supply and demand
Resource Investing News
Speaking with Diamond Investing News, Yaniv Marcus, investment strategist at Leibish & Co., a supplier of natural fancy colored diamonds of all colors and sizes, explains the ins and outs of supply and demand for such diamonds.

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How to help your kids launch a small business this summer
Forbes
We all want our children to become confident, intrepid, and imaginative little men and women. We want them to follow their dreams, take chances, and understand they don't always have to color within the lines.

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7 things never to tell your spouse about business finances
American Express OPEN Forum
Every entrepreneur should expect a roller coaster ride when running his or her company. Unfortunately, the unsuspecting spouse (or significant other) doesn't really understand what he or she has signed up for.

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The UK's NPA applauds new government consumer credit enforcement rules
Jewellery Focus
The United Kingdom's National Pawnbrokers Association has said it supports the government's review of the enforcement processes for consumer credit regulations. The review, conducted by the Financial Conduct Authority considers the fairness, transparency, speed and efficiency of arrangements and processes for enforcement decision making amongst regulators.
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Is targeting the unbanked trendy now among big banks?
The Huffington Post
American Express just got a little competition in its efforts to appeal to those living outside the financial mainstream. On May 29, banking giant JPMorgan Chase & Co. announced that it has committed to invest $30 million to create the Financial Solutions Lab.
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Virginia's Lynchburg Pawn files civil suit against deputy and former employee
Lynchburg News and Advance
Lynchburg Pawn Inc. in Virginia has filed a civil suit against Sheriff's Capt. Buddy Gene Wade and former store employee Julian Thaxton. The suit, filed June 13, stems from allegations that Thaxton took merchandise from the pawnshop and gave it to Wade to resell.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Teen opens world's first pawnshop for $15,000 sneakers (New York Post)
Supreme Court rules on 'straw purchaser' law (The Associated Press via TIME)
Phoenix pawnshop fined for giving employees lie detector test (KPHO-TV)

Don't be left behind. Click here to see what else you missed.
 

NPBA Weekly NewsBrief
Colby Horton, Vice President of Publishing, 469.420.2601
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