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Pawnbrokers frequently asked questions

Q:   Are "consignment" businesses also covered?
A:  

A "consignment" business needs a pawnbroker license if they purchase personal property with an implicit or explicit agreement that they will hold the property for a period of time for redemption by the consumer.


Q:   How do I file a complaint?
A:  

The Division of Finance and Corporate Securities (DFCS) investigates complaints involving these organizations. To file a complaint, click here. Submit written complaints to the division.  

Written complaints should contain a brief but accurate explanation of the problem and advise us of your desired result. Any documentation to support the complaint will help the division to more quickly resolve the complaint. Do not send original documents, send copies. Complaints usually take 2 - 4 weeks to resolve.


Q:   Is any property not included in the ACT?
A:   Motor vehicles, securities, notes and judgments when used as pledged property are specifically excluded from the Pawnbroker Act.
Q:   What about "buy and sell" businesses?
A:   A "buy and sell" business needs a pawnbroker license if they purchase personal property with an implicit or explicit agreement that they will hold the property for a period of time for redemption by the consumer.
Q:   What are the penalties for being unlicensed?
A:   Any person who is found in violation of the Pawnbroker Act could be liable for penalties as described in ORS 726.910 - Civil Penalties and ORS 726.990 - Criminal Penalties.
Q:   What is a pawn transaction?
A:  

A pawn is a loan where personal property is pledged and the rate of interest is more that 10% per annum.

A pawn is also a purchase of personal property if the buyer agrees either verbally or in writing, to permit a seller to repurchase the property at a price, the difference is an amount which equals more than 10% per annum.


Q:   Where can I find a list of persons or companies licensed as pawnbrokers in Oregon?
A:   Visit the list of pawnbrokers licensed to serve Oregon consumers.
Q:   Where can I get a license application package?
A:   Call (503) 378-4140 or e-mail us and request a pawnbroker license application and the package will be mailed to you.
Q:   Where can I get more information?
A:   The Division of Finance and Corporate Securities has been designated as the regulator of these licensed organizations operating in Oregon. You can get more information by calling (503) 378-4140.