Photo: Diego M. Radzinschi/ALM
In January 2023, the Federal Trade Commission (FTC) issued a proposed rule that would ban most noncompete agreements throughout the United States. After receiving more than 26,000 public comments, this past April the FTC voted 3-2 to approve a final rule. The final rule covers any type of worker, including employees and independent contractors. Any existing noncompete agreement for a "senior executive" (defined as a worker earning more than $151,164 who is in a "policy-making position") could remain in force, but no new compete-agreements would be permitted for any workers.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
