Taking ‘Junk Fees’ Out With The Trash: Following California’s Lead

Small-business owners who receive loans from certain online lenders that offer “fast and easy” small-business funding may be in for a nasty surprise: hundreds or even thousands of dollars in unnecessary and hidden “junk fees,” such as exorbitantly high Uniform Commercial Code (UCC) termination and automated clearing house (ACH) fees, risk assessment fees and undisclosed prepayment penalties.