Renewal of Pawn America Minnesota’s currency exchange license at 15 Coon Rapids Blvd., has been approved by the Coon Rapids City Council.
Action was taken by the council Nov. 6 following a public hearing at which no one appeared.
State law requires cities to hold a public hearing and make a decision on currency exchange licenses within 60 days of the Minnesota Department of Commerce’s approval of the license renewal, according to Vincent Vu, management analyst and deputy city clerk.
Pawn America Minnesota has paid its fees for the license and the commerce department following a state-level background review on personnel found nothing that would prevent license renewal, Vu told the council.
According to information it provided the city, Pawn America Minnesota’s Coon Rapids location cashes checks issued by government entities, payroll checks, insurance checks, bank money orders and Social Security checks.
It charges $2 per check or 2 percent of the face value of the check depending on the card program in which the customer is enrolled.
Peter Bodley is at [email protected]