Madison pawnbrokers are licensed under MGO Ch. 9.49 and Wis. Stat. Ch. 138, with capped interest rates, mandatory holding periods, and daily transaction reporting to Madison Police.
Operating a pawnshop in Madison requires both a city license under MGO Ch. 9.49 and compliance with Wis. Stat. 138.10, which caps pawnbroker monthly charges and requires written tickets disclosing all fees. Pledged items must be held at least 60 days before being forfeited or sold, and every transaction must be uploaded to Leads Online for police review. The Madison Police Department conducts compliance inspections and audits redemption logs. Owners and managers undergo background checks. Customers must present valid ID for every transaction, and minors cannot pawn property.
Charging excess interest, failing to report, or violating hold periods can trigger fines, license revocation, and state restitution actions; unlicensed pawn lending is a misdemeanor.
See how Madison's pawnbrokers rules stack up against other locations.
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