New DC pawn shop bill

[Anonymous]

My DW is a big supporter of a proposed bill coming up in the DC Council. It will put some restrictions on pawn shops, which are now just about totally unregulated, such as capping their interest rates at 24% per year (now generally 60% and up) and giving Advisory Neighborhood Commissions a role in their licensing. Since there is so much interest here in DC taxes, how do people feel about DC lowering interest rates and giving residents a voice in whether a pawn shop should locate in their neighborhood?

For more detail about the issue, and about where and when to testify (in person or by quick email) you can go to http://ancsaragreen.org/PawnInfo.htm.

[Anonymous]

I agree with capping interest rates. I disagree with giving ANC's say because they are legitimate businesses and the only logical reason to block them is to prevent poor people from coming into a neighborhood. It's not like a nightclub where the business attracts noise/drunkenness, etc.

[jsteele]

Do you know where Reverend Hagler stands on this issue?

[Anonymous]

In response to Jeff, I have no idea where Rev Hagler stands.

On the ANC, I see the point that there is a NIMBY feel to that part of the legislation. Although they do not have the noise or late-night aspect of night clubs, the parallel might be more reasonable with liquor stores, on which the ANCs do have a say. Remember that the Commissions are only advisory, and on the positive side, would provide a venue for communication between the operators and their neighbors that might avoid problems before they occur.