MLA Pawn Customer Letter
Restore 2007 Pawn Transaction Exemption
Pawn transactions have been exempt from coverage under the Department of Defense (DoD) Military Lending Act (MLA) since 2007. That is set to change October 3, 2016. Without a simple method that doesn’t require collecting SSNs, many pawnbrokers may be forced to stop making loans.
Please write or call to ask the DoD to give the exemption from MLA coverage back to pawnbrokers, or to provide another way to check who is covered by this new regulation that does not depend on using any pawn customers’ SSN.