New York City, New Jersey bills focus on cashless businesses

Bills being worked on by lawmakers in New York City and New Jersey would require businesses to accept cash. The lawmakers behind these bills say cash-free businesses are discriminatory against low-income customers.

New York City Councilman Ritchie Torres, a Democrat, introduced a bill in November that would prohibit retailers from refusing to accept cash payments. Businesses would be fined $250 for their first violation and $500 for each subsequent violation under the measure, reports the CNBC.

Lawmakers in New Jersey advanced a similar bill in early December. It would require all brick-and-mortar retailers to accept cash, excluding transactions made online, by telephone or by mail. Should the bill pass, New Jersey would become the second state to ban retailers from refusing to accept cash.

Massachusetts became the first when it passed a law in 1978 banning cashless stores.

Click here to read a report from CNBC about the New York City and New Jersey bills.

Originally posted Friday, Dec. 21, 2018