AFSA Opposes Interchange Bill
Today, AFSA’s State Government Affairs team submitted a comment letter to the Puerto Rico Senate urging opposition to the interchange bill, SB 675. The bill aims to artificially limit interchange fees by excluding gratuities and sales tax from the fee calculation.
AFSA warns this could disrupt the electronic payment system and force financial institutions to provide services for free. This type of legislation has already been rejected in more than 30 states (Illinois is the lone exception, which has led to ongoing litigation and unintended consequences).
AFSA urges a careful review of the bill, noting that it could create a fractured payment system, increase fraud risks, and ultimately harm consumers, businesses, and the broader economy.
This letter and other SGA materials can be found on the direct advocacy section of AFSA’s website.
August 21st, 2025
