The high-interest, short-term loans that pawnbrokers give out, backed
by undervalued jewelry, camera, instruments and the like, would be
covered under the bill.
As well as the undervalued CDs from the previous owner’s dog’s music club selections, the crapped out power tools, and the top-of-the line Dollar General stereo systems. Senator Dubrin (an Illinois Democrat–surprise!) needs to get out among ’em a bit more often.
As an alternative, I’d suggest exempting the interest income on your first $1000 in savings from Federal Income tax, to encourage saving for that rainy day, and establishing a good line of credit.