Penny Phaseout Explained

American Bankers Association

Published: January 1, 2025

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Source Overview

ABA explains implications for financial institutions and payments.

Key Takeaways

Banks anticipate operational changes
Cash handling procedures evolving
Education emphasized

Our Two Cents

Banks sit at the intersection of consumers and merchants during this transition.

Open Questions

?How will banks support retailers?
?What role will audits play?

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