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American Financial Services Association

AFSA, Trades Oppose ND Interchange Bill

AFSA, Trades Oppose ND Interchange Bill

AFSA recently joined 13 other state and national trade associations in a comment letter opposing North Dakota SB 2217, which recently passed the Senate and is currently pending in the House. SB 2217 would prohibit the collection of interchange on the sales tax portion of electronic transactions.

In the letter, the coalition noted that state legislatures have considered over 40 similar bills in the past two decades, but none have ever passed the first chamber after lawmakers recognized the burdensome and costly changes such a proposal would impose. The bill’s requirements would require merchants to implement a complete overhaul of current payments systems and operational mechanisms.

If passed, SB 2217 would require unprecedented changes to the payment process, posing significant costs that would harm consumers and small businesses alike. 

This letter, along with SGA’s other comment letters and testimonies, can be found on the SGA direct advocacy section of AFSA’s website. 

February 13th, 2023 by

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