New Law in New York Forces Retailers to Accept Cash for In-Person Purchases

AI Briefing

• – A new law in New York requires retailers to accept cash for in-person purchases, aiming to promote financial inclusion and support unbanked residents.
• – The law, signed by Governor Kathy Hochul in March, makes New York the first state to mandate cash acceptance for all retail transactions.
• – The move is seen as a step towards reducing financial inequality and ensuring that everyone has access to basic banking services.