Amidst Growing Need for Financial Options, Pawnbrokers Bring Community Concerns to Capitol Hill

WASHINGTON, May 6, 2025 /PRNewswire/ -- Nearly 60 pawnbrokers from across the United States convened on Capitol Hill recently to meet directly with federal lawmakers and advocate for the essential role their industry plays in communities nationwide. Representing businesses from 22 states, the pawnbrokers held over 120 scheduled meetings with representatives and their staff.

This concerted advocacy effort is a cornerstone of the National Pawnbrokers Association's (NPA) annual Legislative Conference. The event brings together NPA members – pawn store owners and professionals – to engage with elected officials on legislation impacting their businesses and, crucially, the diverse customers they serve.

The need for accessible, small-dollar financial options remains significant. A November 2024 Federal Deposit Insurance Corporation (FDIC) national survey highlighted this reality, finding that in 2023, nearly 19 million U.S. households were underbanked, and 5.6 million lacked any bank or credit union account. For these individuals and millions more facing unexpected financial needs, pawn businesses provide a critical safety net.

Pawnbrokers fill a specific gap in the financial services market, offering average transactions under $180. These small-dollar, non-recourse pawn transactions provide immediate funds without impacting consumers' credit ratings, involving no collection process or risk of debt cycles. While operating under comprehensive federal, state, and local regulations similar to traditional lenders, pawn stores offer rapid access to funds, often within minutes – a vital service for those needing to cover urgent expenses like fuel or urgent care visits when banks and credit unions often cannot assist.

"Our members are on Capitol Hill today to ensure lawmakers understand that pawn stores are responsible, regulated community partners providing essential liquidity to millions of Americans," said Kristen Williams, Executive Director for the NPA. "We provide a valuable service, particularly for the unbanked and underbanked, offering immediate, non-debt-creating solutions for everyday financial challenges."

To learn more about the pawn industry and its role in communities, please visit the National Pawnbrokers Association website at nationalpawnbrokers.org.

About the National Pawnbrokers Association

The National Pawnbrokers Association (NPA) is the unified voice of the pawn industry. The NPA is dedicated to advocating for the industry and its customers, promoting ethical business practices, supporting fair regulation, and providing valuable resources and education to its members nationwide.

Media Contact:

Laura Wasileski
Marketing and Media Director
(817) 337-8830 Ext. 1003
[email protected] 

SOURCE National Pawnbrokers Association