New York bans cashless retail businesses

Restaurants and retail businesses in New York City will be required by law to accept cash from customers, or face fines of up to $1,500 per violation, reports The New York Post. Refusing to accept cash is unfair to the 25% of New Yorkers who are unbanked or underbanked, say drafters of the regulation. New York joins Philadelphia and San Francisco in banning cash-free establishments.