Mayor Bloomberg Signs Legislation to Modernize Recordkeeping Practices of Pawn Brokers and Second-hand Dealers

December 30, 2013

Remarks by Mayor Michael R. Bloomberg at a Public Hearing on Local Laws

“The next bill before me today will modernize the recordkeeping practices of pawnbrokers and certain second-hand dealers in the City, so that records they are already required to keep may be more readily available for review by the Police Department and the Department of Consumer Affairs.

“Introductory Number 1177-A is sponsored at the request of our Administration by Council Members Garodnick, Chin, Koo, Koppell, Gennaro and Van Bramer. Pawnbrokers and second-hand dealers are required to keep detailed records of their transactions, which are currently kept in what are called “Police Books,” that are routinely reviewed by the NYPD and the Department of Consumer Affairs in administrative inspections.

“This legislation updates this requirement for pawnbrokers and for certain second-hand dealers, those dealing in electronics and precious metals, to also maintain some of these records electronically.

“Introductory Number 1177-A builds upon a program that the NYPD has conducted on a voluntary basis for four years, in which businesses upload information about their transactions to a secured electronic data service. The transaction information includes serial numbers and other identifying information about the property. This data is cross-referenced against complaints of stolen property as soon as the transaction is uploaded, and these searches have already resulted in hundreds of investigative leads, leading to recovery of property and arrest of the thieves.

“By requiring these businesses to electronically upload identifying information about the property, including a new requirement of providing digital photos, the bill creates consistency in recordkeeping and allows the businesses to assist more easily and more productively in fighting against the theft of electronics and jewelry.

“The bill also improves the paper recordkeeping required of used car dealers, by requiring that they include additional information in their records of sales, such as the VIN number of the vehicle.

"I would like to thank Police Commissioner Ray Kelly, Assistant Commissioner Susan Petito, Sergeant Juan Duque of the NYPD’s Operations Command, DCA Commissioner Jonathan Mintz and their staff for their work on this bill, along with my Office of City Legislative Affairs. I would also like to thank the City Council for approving this legislation.”

Contact:

Marc LaVorgna/Evelyn Erskine (212) 788-2958