Retailers Seek Law Rounding to Nearest Nickel as Pennies Go Away

US retailers are appealing to Congress for a new law allowing them to round purchases to the nearest nickel as new supplies of pennies dry up, according to a letter seen by Bloomberg.

“Businesses simply cannot provide exact change any longer because they cannot get pennies,” the retailer groups wrote in a letter dated Sept. 30 sent to the top Democrats and Republicans on the Senate Banking Committee and the House Financial Services Committee.

Many of the Federal Reserve’s coin distribution locations have already stopped accepting and distributing pennies since President Donald Trump directed the Treasury Department to phase out ...