PHILADELPHIA, October 24, 2018, – Tomorrow in Philadelphia City Council, Councilman Bill Greenlee (At Large) will introduce a bill requiring businesses to accept cash as payment.
According to Greenlee “Cash is the legal tender of the United States. I have noticed an increase in businesses requiring patrons to use credit and debit cards as payments. This practice negatively affects poor people and immigrants who are unable to obtain credit cards, and do not have a bank account. Businesses who use credit only are sending a message to poor people that they do not want their business. People should have a right to use cash if they so choose.”
The Federal Reserve estimated in 2017 that 43% of American households have credit card debt. “Requiring cards for payment will lead to people over extending their credit. Additionally, many people have serious security concerns about the is probability that a financial institution could be hacked and data could be manipulated, deleted or stolen. Cash is tangible and safe”, said Greenlee.
The most recent survey conducted in 2015 by the Federal Deposit Insurance Corporation (FDIC) determined that nationwide 7 percent of households do not have a checking or savings account and are unable to obtain debit cards.
Per the legislation’s co-sponsor Councilwoman Maria Quiñones-Sánchez (7th District):
“Many Philadelphia families rely on cash for daily needs. While we continue working to expand access to financial institutions for all Philadelphians, no doors should be closed to them.”
Read the ordinance:
Cashless Retail Prohibition Bill (Greenlee)
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