Once a year pawnbrokers from all over the country come to Washington, D.C. To discuss relevant topics facing the pawn industry from a federal level. Many people might be surprised to find out that pawnshops are regulated by both state and federal law. The state sets the perimeters on interest rates and time requirements.
However, on a federal level, pawnbrokers must abide by federal laws regarding privacy, truth in lending, and an array of other financial responsibilities. It is up to us as pawnbrokers to educate the very people who set the laws in which we must operate on the pawn industry.
Over the next 48 hours I will have a chance to speak with other pawnbrokers as well as multiple legislators on current topics affecting the pawn world.
