FiSCA Joins and Participates in Consumer Choice

UPFRONT FiSCAACTIVITIES

FiSCA Joins and Participates in Consumer Choice in Payments Coalition:

Group Seeks to Preserve Right of Consumers to Use Cash

Seeking to protect the ability of consumers to conduct their transactions in whatever form is most convenient to them, FiSCA has joined the Consumer Choice in Payment Coalition (CCPC). The CCPC consists of a group of businesses, trade associations, and consumer groups that have come together to advocate for consumer choice and for preserving the right of all consumers to use cash to pay for goods and services in the marketplace.

Among the new coalition’s top priorities is supporting passage of The Payment Choice Act of 2019 (HR-2650). The bill, introduced by Representative Donald M. Payne Jr. (D-NJ), now has 55 bipartisan co-sponsors. If enacted, the law would prohibit cashless retail establishments and maintain U.S. currency as a viable means of payment for most consumer purchases in the U.S. H.R. 2650 closely follows popular measures recently adopted at local and state levels, which largely ban cashless policies at brick-and-mortar retail establishments, while not disrupting traditional non-cash payment methods using the internet, phone, and mail. Additionally, the bill provides penalties for violations, ranging from $2,500 for a first offense to $5,000 for subsequent violations.

On July 1, 2020, Senate Bill 4145 was introduced by Senator Bob Menendez (D-NJ) and Senator Kevin Cramer (R-ND). This bill is the companion bill for HR 2650, and the coalition will support its passage.