Released: September 09, 2024

Are we moving toward a cashless, checkless society?

Source: Betty LIn-Fisher, USA Today

Cash and checks, the dominant forms of currency for generations, are now increasingly not welcome.  Like Camden Yards, most Major League Baseball stadiums and many other professional sports arenas have gone cashless.

Despite the printed words on money, which says "this note is legal tender for all debts, public and private," businesses are not required by law to accept cash, according to the Federal Reserve.

"Cash is needed for choice, for privacy, for equity and for access," said Ruth Susswein, director of consumer protection for Consumer Action, a national education and advocacy organization.

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