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'Penny for your thoughts.' Local businesses adjust rounding policies as federal government halts penny production
Local businesses are concerned since the U.S. government ended the production of pennies and how it will affect them.
Key insight: The Treasury Department has issued guidance on rounding prices to the nearest nickel, which industry groups had said was necessary amid a penny shortage induced by the Trump ...
More fast-food, convenience, and travel stop chains are rounding cash totals to the nearest nickel when pennies aren’t available Big retailers and grocers are doing it too, often rounding in the ...
CLARE, Mich. (WNEM) – Area businesses are adjusting to a future without pennies, five weeks after the last penny was struck at the U.S. Mint in Philadelphia. Some are rounding cash purchases to the ...
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The US Treasury recently confirmed that it has minted its last ...
Since the U.S. stopped minting pennies last month, businesses have had to adapt to the resulting shortage, particularly for prices that don’t end in a “0” or “5.” Many, including restaurants, have ...
Now that the government has stopped minting pennies, retailers and restaurants that tend to do a lot of cash business want the federal government to come up with a standard for rounding. It’s been a ...
OF THE 13 CHARGED, FOUR LIVED IN DES MOINES, CASEY GAS STATION SAYS ITS PLAN WILL BE MORE FAVORABLE TO CUSTOMERS. THE IOWA OWNED CHAIN SAYS IT WILL ROUND DOWN ON CASH TRANSACTIONS TO THE NEAREST ...
On paper, that looks fair — some totals go up, some go down, and everything would balance out over time. But real-world prices don’t land evenly across those digits. In 2023, the Federal Reserve asked ...
The MetroHealth System must face claims alleging it illegally rounded workers’ hours, a judge ruled Nov. 24 (Bowman v. MetroHealth). A medical practice assistant alleged in the proposed class-action ...
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