A public hearing shall be held upon initial application for a pawnbroker's license. The Secretary of Banking shall permit residents residing within a radius of five hundred (500) feet of the proposed location to testify at the hearing. All costs of the hearing shall be borne by the applicant. The Secretary of Banking shall give appropriate evidentiary weight to any testimony of these residents in the review of the application.
63 P.S. § 281-4.1