Pawnbrokers in Seattle operate under WA RCW 19.60, capping monthly interest at three percent plus a small fee, requiring 90-day loan terms, daily SPD reporting, and a 30-day police hold on pawned goods before forfeiture and sale.
RCW 19.60 governs pawn loans statewide. Pawnbrokers may charge up to 3% per month interest plus a preparation fee, with a 90-day minimum loan term and a 90-day grace redemption window. Daily electronic reporting of pledges to local police (LeadsOnline) is required, including item photos, serial numbers, and pledger ID. Forfeited goods must be held thirty additional days before sale so SPD can match against theft databases. Seattle layers a city pawnbroker registration and inspection regime under SMC 6.288 alongside the state license.
Charging excess interest, accepting goods without ID, skipping daily reports, selling forfeited items before the 30-day hold, or operating without a license triggers misdemeanor charges, civil penalties, license suspension, and refund liability to borrowers.
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