The U.S. Trend to Ban Cashless Retailers

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According to Axios, while big chains like Amazon Go, Sweetgreen, and Shake Shack are fast eliminating cash sales, U.S. cities and states are fighting against this trend. Questions: 1. Why are states like New Jersey and cities like Philadelphia banning cashless retailers? 2. What percentage of U.S. sales are made with cash? 3. What is… Read more »

Lock Down that Debit Card

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Have you ever lost or misplaced your debit card? Now some banks are offering a simple app for your cellphone that will allow you to protect bank accounts quickly while you figures out whether you lost or misplaced your card. Questions: 1. How does Bank of America’s version of the debit card lock work? 2…. Read more »

Target hit by credit-card breach

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On December 19, 2013, Target admitted that it was hit by an extensive theft of its customers’ credit-card and debit-card data over the Black Friday weekend. The theft was national in scope and happened in stores, not online. Questions: 1. When and what happened with respect to a card breach at T.J. Maxx and Marshalls… Read more »

Watch Out for Junk Fees!

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According to this article and a new study by the National Consumer Law Center, many states are shortchanging the jobless by distributing unemployment benefits on debit cards loaded with junk fees. Of the 40 states that have switched from paper checks to prepaid debit cards, 22 states’ cards charge ATM fees, 24 charge balance inquiry… Read more »