C L I F F ’ S N O T E S : NPA IN ACTION IN WASHINGTON, D.C.
PAWN IS BIPARTISAN
WE NEED YOUR HELP TO TELL THE STORY THE ATMOSPHERE IN D.C. remains politically divisive and partisan. The number of policy issues and positions to consider and address is a daunting task for your Members of Congress. Each party and chamber is constantly maneuvering for control in an effort to pass competing legislative priorities. However, the one constant that I am humbly reminded of is PAWN IS BIPARTISAN. I had the occasion recently to enjoy an intimate meal with a highprofile Member of Congress, who I had only known superficially for many years. This Member often is viewed as a lightning rod in that many people praise this Member, while others viscerally feel the opposite. That said, I had the opportunity to share my involvement in representing the NPA which, to my pleasant surprise, resulted in a strong connection with this Member who explained their knowledge of pawn and the importance of pawn in underserved communities. This Member knew a local pawnbroker and spent time educating me about how pawn is essential. In thinking back, why was I surprised? I was reminded then and am reminding readers now that PAWN IS BIPARTISAN, and pawn has a great story to tell! Pawnbrokers know what they do each and every day to help people. Pawnbrokers serve consumers of all backgrounds, regardless of race, gender or party affiliation. You know what you do, but do your elected officials understand and appreciate the significance of pawn like the Member I mentioned? If not, they need to. In my outreach I always underscore the following: pawn is unique compared to any other financial service providers; pawn is non-recourse; pawn is safe; pawn is highly regulated by federal and state laws; pawn does not put consumers in a cycle of debt; pawn has few complaints; pawn was exempt from the CFPB small dollar rule under the Obama Administration; pawn is a safetynet; and pawn works with Democrats and Republicans. As NPA members are aware, the legislative and regulatory actions being considered in D.C. can have life- changing outcomes on your business. There is pending rate cap legislation and potential rule making from the CFPB that could impact pawn. The good news is pawn is not a focus of policymakers, but we often get swept-in. Accordingly, the NPA continues to work diligently to ensure favorable outcomes for pawn, and we know our best hope for success is NPA members sharing the pawn story. This recurring theme is evidencing progress as connections with Congress and their staff are growing. However, relationship management is a continuous process. Please contact the NPA with questions and to receive background information that can be shared in your outreach.
Cliff Andrews Cliff Andrews Capacity Advocates, LLC
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NATIONAL PAWNBROKERS ASSOCIATION | WINTER 2021
