The other lender of last resort

Pawn Shop Storefront

By Alyk Russell Kenlan Medill Reports COVID-19 has caused a role reversal in pawnshop borrowers. During the first four weeks of Illinois’ stay-at-home order, some pawnshops in lower-income areas of Chicago saw fewer new loans taken out and old loans being paid back early. Pawnshops in wealthier parts of the city, however, faced a rush […]