Thursday, May 6, 2010

Pawnbroker legislation hearing postponed

From an email from Ward 4 CM Muriel Bowser:
Originally set for May 26, the hearing date for the "Predatory Pawnbroker Regulation and Community Notification Act" has been moved to June 2.   It will take place at 10 a.m. in the Council Chamber on the 5th Floor of the Wilson Building.

B18-0715, "Predatory Pawnbroker Regulation Act of 2010", is designed to protect consumers from predatory lending by pawnbrokers by limiting the interest rate that can be charged.   The legislation would also give regulatory authority of pawnbrokers to the Department of Insurance, Securities, and Banking.

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