This bill amends existing pawnbroker law (RCW 19.60.060 and 19.60.061). It sets a new maximum interest schedule for pawnbroker loans secured by personal property, using tiered flat amounts per 30-day period for loans under $100 (for example, $1.00 per 30 days for loans up to $9.99, $3.50 per 30 days for $90.00–$99.99) and a 5% per 30-day rate for loans of $100.00 or more. It limits loan-document preparation fees by loan-size tiers (including a 15% fee for loans of $50.00 or more), allows a $10.00 per-30-day storage fee plus an additional $10.00 firearm storage fee, and caps preparation fees at one charge per loan period while prohibiting other extra fees for making the loan. The bill makes procedural changes: it sets the term of a pawnbroker loan at 60 days (including the loan date), prohibits sale of pledged property until at least 60 days have passed (after which the pawnbroker acquires full rights and is not required to account to the pledgor), requires a written loan document provided to the pledgor listing specified information (term, final due date, fees, interest per 30 days, total due if outstanding for full 60 days, APR, and right to redeem), and permits rewriting an existing loan into a new loan by agreement (including payment by mail or online). When a loan is rewritten by mail, RCW 19.60.020(1)(a) and (g) are stated not to apply. The bill also requires a copy of the section (in 12-point type or larger) to be posted prominently at each premises subject to the chapter. Affected parties named in the text include pawnbrokers, pledgors, and premises subject to the pawnbroker chapter. This is a statutory amendment; it changes permitted interest and fees and modifies procedures and record/posting requirements. The text shown does not include an effective date, does not provide full definitions used elsewhere in the chapter, and does not show the content of the referenced RCW 19.60.020(1)(a) and (g), so those details are uncertain from the provided material. The bill is House Bill 1269, H-0248.1, 69th Legislature, 2025 Regular Session, referred to the Committee on Consumer Protection & Business.

If enacted, pawnbrokers would have clearly capped charges: small loans would carry set flat dollar interest amounts per 30-day period and loans of $100 or more would be limited to 5% per 30-day period. Paperwork fees on loans of $50 or more would be capped at 15% of the loan and may be charged only once per loan period; pawnbrokers could also charge up to $10 per 30 days for storage and an extra $10 for firearm storage. The required 60-day minimum before a pledged item can be sold, the obligation to give customers a written contract listing fees, APR, due date, and redemption rights, and the visible posting requirement will make costs and timelines more predictable for people who pawn items and reduce pawnbrokers’ ability to add multiple or surprise fees. The groups most affected are pawnbrokers, who may see changes in revenue mix and fewer fee options, and pledgors, who will get clearer limits and mandatory written disclosure of loan terms and fees. The bill also allows rewriting loans by agreement and permits mail or online payments, which could preserve redemption options for customers; however, the draft lacks an effective date and some cross-referenced definitions and exceptions are not included here, so the timing and some implementation details remain unclear.