SB 405 - Pawnbroker Interest Rates and Penalties

• Increases maximum interest rate pawnbrokers may charge from 3% to 4% per month on loans.

• Updates disclosure requirements on pawn tickets to reflect the new 4% interest rate cap in required consumer warnings.

• Adds civil fine provision allowing up to $5,000 in civil penalties for violations of interest rate limits, enforceable by county prosecutors or the attorney general.

• Increases criminal penalties for pawnbroker violations to imprisonment of 10 days to 3 months and fines of $250 to $1,000 (previously $25 to $100).

• Amends the act's title to include reference to civil sanctions as a remedy for violations.