(source: en.wikipedia.org)
Illinois will require retailers to accept certain cash payments, beginning Jan. 1, 2028. This state law results from the Friday (July 31) signing of the Retail Cash Payment Act (HB 4592) by Gov. JB Pritzker, according to a Friday press release from the Office of the...
The certainty that money is available when needed has become a defining concern for households. We’re all navigating elevated prices and higher borrowing costs at the same time that income streams have grown less predictable. In that environment, access to funds carries practical weight that...
New York Attorney General Letitia James reminded New Yorkers Friday (March 20) that a new law requires stores throughout the state to allow customers to pay in cash. While sharing this reminder in a consumer alert, James also invited New Yorkers to submit a complaint...
America’s retailers are reportedly unhappy with the end of penny production. According to a recent report by Chain Store Age, the Retail Industry Leaders Association (RILA) is calling on lawmakers to address the issue when Congress returns to D.C. next month. The problem began earlier...
The wind-down of the penny is reportedly causing problems for banks and retailers. While they don’t want the penny to stay around, they are seeking solutions to issues like supplying the coins to those who need them and making exact change in retail transactions, ABC...
A bill that would prohibit food stores and retail establishments from refusing to accept cash payments is on its way to the New York governor’s desk after being passed both houses of the state legislature. The bill — S4153-A in the state senate and A7929-A in the house...
After more than 200 years, it is time to say goodbye to the penny. As the Wall Street Journal (WSJ) reported Thursday (May 22), the U.S. Treasury Department will cease putting new pennies into circulation by early 2026. Eventually, the department told WSJ, there won’t...
Two of the planet’s most cashless societies are now reexamining their move from paper money. As The Guardian reported Sunday (March 16), Sweden and Norway have the lowest amount of cash in circulation — in terms of percentage of gross domestic product (GDP) — out...
Cash may not be king in the digital age, but the dollars and the coins are still essential. Regulators and central banks, through new laws and research, have underscored the usefulness of financial institutions (FIs), merchants and other enterprises giving what we might term cash...