Pawnbrokers in Illinois are licensed by the state under the Pawnbroker Regulation Act, 205 ILCS 510. Cook County Sheriff oversight in unincorporated Cook requires daily transaction reporting to a CAPSS-equivalent law enforcement system, photo ID, fingerprints in some suburbs, and a 30-day pledge hold.
Illinois licenses pawnbrokers statewide under the Pawnbroker Regulation Act, 205 ILCS 510, administered by the Illinois Department of Financial and Professional Regulation. Each location needs a state license, a $100,000 surety bond, and recordkeeping that documents the pledgor, item description, serial numbers, amount loaned, and finance charges. State law caps redemption periods and finance charges and requires retention of pledged property for at least 30 days. In unincorporated Cook County, pawnbrokers also obtain a Ch. 54 business license and report transactions to the Cook County Sheriff via an electronic property reporting system comparable to Chicago Police CAPSS. Chicago adds MCC 4-240 licensing. Many suburbs require fingerprinting of employees handling pledges.
Operating without an IDFPR pawnbroker license, missing the 30-day pledge hold, failing to file reports with the Sheriff, or violating fingerprint requirements brings state license revocation, civil penalties, and criminal charges under 205 ILCS 510 and applicable suburban ordinances.
See how Oak Lawn's pawnbrokers rules stack up against other locations.
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