Wednesday, January 29, 2020

Cash America Officially Takes Over America

Not reported anywhere I could find:

First Cash, Cash America, & U.S. Money Shops pawn shops all merged (or completed mergers) in late 2019.

If you buy from pawn shops this could have a huge effect on higher prices. This essentially gives Cash America a nationwide pawn shop monopoly.

Many independent pawn shops are going out of business due to local regulations - especially on gun sales. Nationalizing pawn shops - and thereby low cost loans and “untracked sales” I think has the same negatives as nationalizing banks has (and has had). If you’ve been inside a bank lately you’ll know what I mean.

You can’t even deposit cash into your own checking account without ID. Yeah, you heard that right. You can’t deposit cash at a bank as of November 2019 → many banks having implemented the policy before then.

I foresee that soon the fed or state governments will want “monitoring” of loans from pawn shops to be on “official record”. Pawn Shops already supply law enforcement with monthly serial number and description databases for burglary recovery.