FOR IMMEDIATE RELEASE

Media Contact
Nazirah Ahmad
nazirah@emccommunications.com
(704) 290-6869

STATEMENT: Small business group on the FTC’s proposed rule on junk fees

Small Business for America’s Future Senior Advisor Rhett Buttle, expresses approval of FTC’s proposed rule on junk fees and looks forward to financial transparency for small businesses

Washington, D.C., Oct. 11, 2023— “The Federal Trade Commission’s new proposal to ban junk fees is great news for small businesses because it protects business and fortifies the economy which is a step toward a future where financial transparency is paramount. Small businesses, the backbone of the economy, have long grappled with hidden and unexpected fees, particularly in the banking sector, which strain our financial resources and hinder our potential for growth and stability. The elimination of such fees ensures that our hard-earned money remains within our businesses, where it can be used for investment, expansion, and to pay our employees.

“The current entrepreneurship boom, characterized by a surge in small enterprises, is a pivotal moment in our economy where innovation, creativity, and small-scale operations are at the forefront. In a tight credit market, where financial resources are scarce, the assurance that businesses will not be blindsided by unforeseen and unjust fees is not merely a regulatory change; it is a safeguard for the sustainability and prosperity of small businesses. This move by the FTC not only protects businesses but also fortifies the economy by ensuring that capital is not unjustly siphoned away from where it is most productively utilized.



“We believe that this step will pave the way for a more transparent, fair, and thriving market, where small businesses can operate with financial certainty and consumers can make informed decisions without apprehension of hidden costs.”

To request an interview with Small Business for America’s Future’s Senior Advisor Rhett Buttle, contact Nazirah Ahmad at (704) 290-6869 or nazirah@emccomunications.com. 

###

About Small Business for America’s Future
Small Business for America’s Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize the nation’s 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.