Comment Letters on Initiative Petitions

Comment Letters on Initiative Petitions

AFSA's State Government Affairs team submitted a comment letter on September 19^th, to the Missouri Secretary of State, Dennis Hoskins on four interchange ballot initiative petitions. Proposed initiative petitions in Missouri (2026-128, 2026-130, 2026-131, and 2026-132) threaten to cap electronic transaction fees at 1.5%. History shows that this approach is a dangerous road for consumers, with the Durbin Amendment in 2010 serving as a clear cautionary tale.

The federal law capped debit card fee and led to a massive windfall for large retailers while harming consumers and small businesses. This type of policy has been rejected in over 30 state legislatures, with the lone exception in Illinois leading to ongoing litigation and unintended consequences. consequences.

AFSA urges a careful review of the proposition and the effect it can have on consumers, 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 letters can be found on the direct advocacy section of AFSA's website.

September 25th, 2025