pawnbroker

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pawnbroker,

one who makes loans on personal effects that are left as security. The practice of pawnbroking is ancient, as is recognition of the danger it involves of oppressing the poor. In fact, the Bible provides the poor with a number of safeguards against oppression from their creditors. According to Ex. 22.25–27 and Deut. 24, 6, 12, 13, 17, pawnbrokers may not practice usury, may not take necessities of life as security, and in general must not take as a pledge any article whose loss would severely injure the borrower. In the Middle Ages, Christians generally were forbidden by the church to lend money at interestinterest,
charge for the use of credit or money, usually figured as a percentage of the principal and computed annually. Simple interest is computed annually on the principal.
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, and pawnbroking was left largely to the Jews as one of the few means of a livelihood open to them. Lombards also engaged extensively in moneylending, however, and in London, the financial center is still called Lombard St. In some Latin American and European nations pawnshops are operated under religious, charitable, or municipal auspices. The most famous such pawnshop is Vienna's Dorotheum, founded (1707) by Emperor Joseph I and still run by the state to provide the poor with easy credit at low rates of interest. In Great Britain and in American states, pawnbroking is regulated by usury laws. Pawnshops are predominantly found in low-income areas, where residents are often unable to establish other types of credit.

pawnbroker

a dealer licensed to lend money at a specified rate of interest on the security of movable personal property, which can be sold if the loan is not repaid within a specified period
References in periodicals archive ?
There are currently two Braswell & Son Pawnbrokers locations in Little Rock and one in Conway.
THE owner of the country's biggest pawnbroker said the recent gold price boom helped send half-year profits surging.
Pawnbrokers threaten to encash the blank cheque for the amount, which then becomes a case of financial fraud for the borrower.
The group is the second largest pawnbroker in the UK, with 183 branches and almost 900 staff, serving 140,000 customers.
Shares tumbled by another quarter yesterday in the wake of a torrid day for the group, which saw five of its six non-executive directors quit with immediate effect - leaving chairman and former chief executive Greville Nicholls as the only remaining nonexecutive at the pawnbroker.
There are several simple steps that jewellers and pawnbrokers can take to protect themselves from these risks, and ensure the items that they re buying are legitimate, as Geoff Knupfer, Chairman of the British Security Industry Association s Asset and Property Marking Section, explains:
H&T pawnbrokers in Newcastle said more and more self-employed traders and small firms have been coming through the doors in recent years.
WEBSTER - A temporary moratorium on medical marijuana treatment centers, a more stringent bylaw for pawnbrokers and secondhand dealers, and fingerprint checks for those applying for hawking, peddlers, liquor, pawn dealers, hackney drivers and ice cream truck vendor licenses are some of the big issues being decided at the special town and annual town meetings May 13.
Denvale is owned and ridden by pawnbroker Richard Hunnisett, but despite winning 12 points, a chase and three hunter chases, he is not the most successful horse to carry his owners' colours of green with three golden circles (representations of pawnbrokers' balls).
50 recorded on January 3, 2011 - pawnbrokers began to buy old gold too.
A preliminary inquiry by the TTD's vigilance authorities into Friday's incident revealed that Deekshitulu had mortgaged not one, but 12 ornaments with pawnbrokers and took loans worth over Rs 10 lakh.
Pawnbrokers have fared better than many in the current economic downturn, as cash-strapped citizens hock possessions.