Pawn shop owners worried about proposed ordinance to curb crime - KRQE News 13

ALBUQUERQUE, N.M. (KRQE) – A proposal to help curb crime by lining up new local laws for Albuquerque pawn shops is not sitting well with at least one local pawn shop owner.

This ordinance proposes severely changing the way people sell items at pawn shops in an attempt to make sure they aren’t trying to get quick cash for stolen stuff.

Michael Steinberg has been in the pawn industry for 35 years, and he thinks this new city ordinance could put 36 in jeopardy.

“That’ll put us all out of business,” he said.

The ordinance, to be introduced by City Councilor Diane Gibson, would overhaul the way pawn shops and “precious metal buyers” work. Namely, they’d be required to get a thumb print from the seller.

Also, instead of upfront cash, the shop would have three days to make sure the item isn’t stolen. Then, a check is mailed to the seller.

Steinberg believes it’ll chase customers away.

“Our customers who need money will become desperate. People need money now they don’t want to wait three days to get their money,” he said.

But Gibson disagrees.

“This will not make it harder for gold buyers and pawn stores to do business. They will have to record what comes in,” she said.

Rather, she believes it will help stop crime in the city, and says she spoke with APD while crafting the ordinance.

“It will make fencing stolen items much less appealing to our pawn brokers and gold buyers,” Gibson said.

Steinberg says he plans to talk to Councilwoman Gibson soon, before she formally introduces the proposal before council.

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