Pawn Shops: the New Banks

By Bob Hansen, NBC San Diego

September 25, 2012 Updated Sep 24, 2012 at 8:01 PM PDT

It doesn't look like a bank. It doesn't sound like a bank. But pawn shop owner Jeff Bernard says think again.

In the face of one of the country's worst recessions, places like the Palace Pawn Shop are taking a bigger role in lending money.

They pay their bills by borrowing money on rings, watches, guitars and stereos.

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