Police Department of the City of Springfield - proposed regulations for the licensing of pawnbrokers

Pursuant to the provisions of Massachusetts General Laws chapter 140, section 78, a public hearing will be held on Thursday, June 12, 2008 at 6:00 p.m. at the Springfield Police Department, 2nd Floor Commission Room, 130 Pearl Street, Springfield, Massachusetts at which oral comments will be received by the Division of Banks relative to regulations proposed by the Police Department of the City of Springfield for the licensing of pawnbrokers. Such regulations include, among other things, the rate of interest to be charged. The proposed regulation would allow an interest rate of 3% per month for loans over $100.

Written comments may be submitted to the Division of Banks on the proposed regulations until 5:00 p.m. on Jun 19, 2008. Copies of the proposed regulations are available for inspection and may be obtained from the Division of Banks, One South Station, Boston, Massachusetts 02110.