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.
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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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
The Collateral Loan Brokers Association of New York's (CLANY) mission is to contribute to the professional and personal development of member pawnbrokers and members associates through the enhancement of the images and perceptions of the industry; by advocating pawnbroker's rights, responsibilities, and issues in the courts as well as the various lawmaking bodies of the land; and by representing and speaking for the industry.
Our investigation found five pay-day lenders, such as The Money Shop, or pawnbrokers with better rates than Santander, HSBC, NatWest, RBS and Barclays.
The raid happened at Brown and Gold pawnbrokers on June 21.
Braswell & Son Pawnbrokers is in the relationship business; by building relationships with customers it is better able to understand and meet their needs.
H&T said the rising gold price was helping the group to weather tough market conditions - with pawnbrokers hit in recent years by intense competition and as gold jewellery has fallen out of favour.
LOAN RANGER: Pawnbroker host Dan escorts Karen from restaurant
Posh Pawn (Channel 4, 8pm) CHARISMATIC pawnbroker James Constantinou has an original Banksy worth PS150,000 and a PS30,000 designer handbag just lying around in his office.
The terror raid on H&T Pawnbrokers in Nicolson Street, Edinburgh, happened at 2.40pm on Wednesday.
Pawnbrokers charge exorbitant interest rates varying between 20 and 40 per cent.
It found 0.01% of post-collapse shops had been turned into pawnbrokers or bookmakers and 3% into charity shops.
A PAWNBROKER with 17 branches across the Midlands has collapsed, putting dozens of jobs at risk.
A PAWNBROKERS with shops on Teesside has gone into administration.