The impetus for the rule was accessibility:

The “very poor,” as well immigrant communities and the very young and old, the amendment read, “fall outside the non-cash financial system.” […]

Nationwide, those levels are decreasing, but remain significant. A survey conducted by the FDIC found that in 2023, Black and Latino households were overrepresented in the unbanked population, with 10.6 percent of Black and 9.5 percent of Latino households in the U.S. were unbanked, down from 17 and 14 percent in 2017.

Today, approximately 4 percent of San Francisco households are “unbanked,” or do not have a checking or savings account, and nearly 14 percent are “underbanked” – have bank accounts but primarily use cash or use check cashers or money orders. […] “These residents are often the most financially vulnerable and can face higher costs and barriers in everyday transactions,” Manke said.

The destruction of cash is part of the advertising panopticon agenda. Paper money doesn’t have a utm_source on it so it is useless.

Let us also keep in mind that this “vocal contingent of local business owners” are the same business geniuses who are always, always certain that a bike lane will ruin them.

Previously, previously, previously, previously, previously.

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