: News

Filed Under:

Committee Considers Tougher Regulations Of Pawn Shops

Play associated audio

By Peter Granitz

A D.C. Council Committee will hear testimony on a bill today that would further regulate pawn shops, not everyone would welcome the change.

Council Member Muriel Bowser introduced emergency legislation in April to stop a pawn shop from opening in her Ward Four.

Now the committee on consumer affairs, which she chairs, is set to consider permanent laws that would cap interest rates at pawn shops at 24 percent. The bill would also notify Advisory Neighborhood Commissions when a pawn shop applies for a license to open.

"As a money lender, because that's primarily what a pawn broker is, it should be regulated by the same agency that regulates other money lenders," says Bowser.

In D.C., that's the Department of Insurance, Securities and Banking.

Pawn broker Rufat Khankishiyve says he doesn't understand why the city wants to deter businesses that he says helps public safety. After all, he works with the police to track stolen merchandise.

"We ask for ID, and put all the information in the computer. We also take all the information about the merchandise, model number and serial number. At the end of the day we do a report for the police," says Khankishiyve.

Still. it's unclear how sweeping the changes could be: Bowser says only eight pawn shops remain in the District.

NPR

Barbershop: UofL Basketball Ban, Football Concussions And The NFL Women's Summit

ESPN contributor Kevin Blackistone, Bloomberg View's Kavitha Davidson and The Washington Post's Wesley Lowery talk about the UofL basketball team, public opinion of the NFL, and women in sports.
NPR

After Introducing Changes, Keurig Sales Continue To Fall

Despite America's high coffee consumption, Keurig reported disappointing sales this week. Even during its popular holiday selling period, the numbers haven't perked up in recent years.
NPR

'National Review' On How Donald Trump Is Changing The Campaign

The prominent conservative magazine National Review dedicated a whole issue to denouncing Donald Trump. Editor Rich Lowry talks about how Trump is reshaping the state of conservatism.
NPR

How Limited Internet Access Can Subtract From Kids' Education

Smartphones are often credited with helping bridge the "digital divide" between people who do and don't have Internet access at home. But is mobile Internet enough for a family with a kid in school?

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.