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 ?
ATTACK: H and T pawnbrokers on West Derby | |Road was the scene of an attempted robbery
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.
STRUGGLING pawnbroker Albemarle & Bond has put itself up for sale following a string of profit warnings and a mass exodus of its board directors.
By accepting these items without question, jewellers and pawnbrokers can run the risk of being charged with handling stolen goods, especially if they have not taken the proper precautions, for example, asking sellers for ID.
H&T pawnbrokers in Newcastle said more and more self-employed traders and small firms have been coming through the doors in recent years.
The town will vote on a more stringent bylaw for pawnbrokers and secondhand shop owners who deal with the purchase, sale or barter of junk, precious metal, stones and gems, and "old metals" (gold and silver).
A NECKLACE with a PS14,000 price tag has been stolen from a city pawnbrokers in a smash-and-grab burglary.
The research was commissioned by H&T Pawnbrokers, one of the country's biggest chains.
The extraordinary story of Alderman Mike Olley, a firm of pawnbrokers and a classic Lanchester car which once belonged to the Queen's father is a clear example of a unique event.
But that imagery constitutes a stereotype, and a diminishing one, according to several Arkansas pawnbrokers.
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).