Committee Considers Tougher Regulations Of Pawn Shops | WAMU 88.5 - American University Radio

: 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

The Other Rock History

What makes an essential rock song? Musicologist Greil Marcus argues that it's not the stature of the performer, but the degree to which a song tells the story of rock 'n' roll itself.
NPR

The Salmon Cannon: Easier Than Shooting Fish Out Of A Barrel

Alarmed by the rapid decline of wild salmon populations, a company has invented a novel way to help migratory fish over blocked rivers. It uses air pressure to fire them out of a cannon.
NPR

Rick Perry's Legal Trouble: The Line Between Influence And Coercion

The Texas governor is charged with abuse of office and coercing a public official, but he claims he was just doing what governors do: Vetoing a budget item.
NPR

The Salmon Cannon: Easier Than Shooting Fish Out Of A Barrel

Alarmed by the rapid decline of wild salmon populations, a company has invented a novel way to help migratory fish over blocked rivers. It uses air pressure to fire them out of a cannon.

Leave a Comment

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