Category Archives: Pawn Industry News

History of Pawn Shops in America

Bloomberg News recently published an online article chronicling the rise and development of pawn shops in the U.S. since the 19th century. The article also cites some of the earliest known pawn loan amounts. Source: Bloomberg News Online The first places in the U.S. to identify themselves as pawnshops, usually marked by a sign showing

Five Reasons to Visit a Pawn Shop

If you haven’t been to a pawn shop in the neighborhood, you’re way behind the times. Pawn Stars on History Channel has proven what we at Best Collateral have known all along: pawn is cool! Still not convinced? Here are five more reasons why you should visit a pawn shop. 1. Never Pay Retail Again

Pawnbrokers Give Back through Community Involvement, Philanthropy and Fund Raising

Best Collateral has been giving back to the community for years. We support several charities and musical instrument donation drives including the National Pawnbrokers Association’s Musical Instrument Gift Day. Here are some powerful stories of how pawnbrokers in California are finding ways to support their local communities: Pawnbrokers are getting involved in their communities, not

Daniel R. Feehan, CEO of Cash America, Comments on Kraft Macaroni & Cheese Commercial

Kraft Macaroni & Cheese is currently airing a commercial that inaccurately and offensively depicts pawn shops and children. Watch Daniel R. Feehan’s video response to the Kraft Macaroni & Cheese Commercial Perhaps you’ve seen it. A young girl steals her father’s golf clubs and attempts to pawn them. The pawnshop she enters appears dark, seedy

Senator Mark Leno Visits Best Collateral for Special Reception

Senator Mark Leno, Representative of California’s 3rd Senate District, attended a special reception at the Best Collateral pawn shop in San Rafael. The reception was held on Thursday, June 23 and was sponsored by the California Pawnbrokers Association (CAPA) and Best Collateral. Robert Verhoeff, Best Collateral President, hosted the evening which was attended by community

What are the federal laws that regulate the pawn industry?

1. Internal Revenue Service Form 8300 2. Bank Secrecy Act 3. U.S. Office of Foreign Asset Controls’ “Specially Designated Nationals” Regulations 4. USA PATRIOT Act 5. U.S. Financial Crimes Enforcement Network’s “Precious Metals Dealers” Rule 6. Truth in Lending Act 7. Gramm-Leach-Bliley Financial Services Modernization Act of 1999 (GLBA) 8. FTC/CFPB Privacy Regulations 9. FTC/CFPB