The best-looking pawnshops ever
The New York Times
The Provident Loan Society was incorporated in 1894 to lend money to the poor and working class at modest rates, supplanting loan sharks and pawnbrokers. By 1905, the society was lending $7 million per year, and in 1906 a reporter for The New York Sun loitered for several hours in the society’s office, where the writer observed an immigrant woman taking out a $50 loan on a pair of earrings.More

House panel begins push on financial overhaul
The Associated Press via Google News
A key House panel moved to tighten rules on previously unregulated financial instruments, a long-awaited step toward governing the obscure and complex transactions at the heart of the troubles that befell some of Wall Street's most well-known financial houses.More

Cash4Gold faces class-action lawsuit
National Jeweler Network
A class-action lawsuit has been filed against the parent company of Cash4Gold, claiming the company misrepresented its services and defrauded customers who sent in their gold jewelry in exchange for cash, court documents say. The 100-plus-page complaint names Cash4Gold's parent company, Green Bullion Financial Services LLC, and was filed as a class-action lawsuit in U.S. District Court for the Central District of California earlier this month.More

They'll buy your stuff
The Buffalo News
If you're storing retired oldies but goodies, or looking to change your furniture, wardrobe or appliances, there’s a local market for just about all of your used, quality stuff. Pawnshops are an option when looking to sell your old items. Unfortunately, some people view pawnshops as unsavory establishments. "I don't know where all those negative stories come from," said Dave Crume, president of the National Pawnbrokers Association. "All pawnshops are heavily regulated by state law and enforcement. You can't just come in off the street and say give me $20 for this without identification."More

Pawn lenders may shine as gold soars
Reuters
Soaring gold prices are expected to benefit U.S. pawn lenders as more people turn to one of the most ancient methods of borrowing -- pledging gold for cash. Entities such as First Cash Financial Services Inc., Cash America International Inc. and Ezcorp Inc. will see a boost in revenue from their pawn operations as more consumers pawn gold for access to quick and easy cash.More

Bill would put restriction on sales by pawnshops
The Washington Post
The Prince George's County Council in Maryland, introduced a bill that would bar pawnshops and secondhand stores from selling such items as food, cosmetics and medications. The bill is intended to protect consumers from potentially unsafe merchandise. It is the latest effort by area officials to impose limits on establishments that many residents say bring down their neighborhoods, including strip clubs and liquor and check-cashing stores.More

Phoenix-area pawn sales soar as precious metals hit record prices
KNXV-TV

Phoenix-area pawnshops are benefiting from record high gold prices and increasing silver values. Silver prices have grown 44 percent since January. Carlos Romero, who pawned a necklace of a Mexican saint his wife had given him, said he couldn't afford to pay his car note.More

Pawnshop lawsuit in hands of attorneys
La Grange Suburban Life
The "likely lawsuit" facing La Grange, Ill., hasn't materialized, but the conflict between the village and a rejected business owner still isn’t settled. La Grange officials said they have not heard anything in regard to a potential lawsuit from Andrew Grayson, who was issued a business license in May to open a pawnshop before the village eliminated pawnshops from the village code July 13.More

East Idaho pawnshops see upswing in business
The Associated Press via KIFI-TV
Pawnshop owners in the eastern Idaho town of Pocatello say business is up as people bring in expensive items to sell during the economic downturn. Leslie McCoy of Vickers Western Store and Pawn Shop says a lot of saddles, laptops, guns, televisions and game systems are showing up.More

Pawnbrokers, gem dealers face oversight
The Cherokee Tribune
The Woodstock City Council in Georgia, is considering measures to regulate pawn brokers, precious gem dealers and crematories. The council approved the first reading of a moratorium through Jan. 2, on issuing business or regulatory licenses to pawn brokers, precious gem dealers or companies with similar uses. The moratorium is to give the city staff time to rework the ordinance related to pawn brokers and precious gem dealers because of the increase in businesses specializing in buying gold.More

The quick way out
Financial Times Adviser
As the effects of the recession continue, many are turning to pawnbroking as a means of raising some instant cash. But how does it work, and what relevance does it have in the 21st century? Pawnbroking has existed in one form or another for hundreds of years but reached its peak in the 19th century. It is a process by which people are allowed to borrow money for short periods of time secured against the property that they pledge.More