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.