California Pawnbrokers Association (CAPA) is an association of pawnbrokers and secondhand dealers and is the only one of its kind in California.
The pawn industry has recently been gaining ground. As a result of the public’s fascination with cable’s most successful TV show, Pawn Stars, and the role pawnbrokers have played as the safety-net lender to millions of Americans through the financial crisis of 2009, pawn has become mainstream.
“2010 was a transformative year for California pawnbrokers” said Diane Taylor, president of the newly branded California Pawnbrokers Association. “The new name accurately addresses the association’s core focus – protecting and promoting this vital industry.” California Pawnbrokers provide short-term small dollar loans to Californians who are not able to receive loans from traditional sources. The FDIC reports in a 2009 national survey that approximately 27% of the US population is un- or under-banked. As estimates for California more than double the national average, it is clear that alternative forms of lending are absolutely imperative for Californians.
“The members of the California Pawnbrokers Association are regulated on the local, state, and federal levels,” Taylor notes. The association also represents the interests of thousands of secondhand dealers state-wide. “In the current economy, we understand the importance of our industry, and by changing our name to the California Pawnbrokers Association and redesigning our logo, we have a stronger impact when interfacing with legislators in Sacramento.”