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AFSA Joins Coalition Letter on Noncompete Agreements

Articles by: Dan Bucherer

Today, AFSA joined a coalition letter commenting on the FTC’s proposed rule to ban noncompete agreements. AFSA, with the U.S. Chamber of Commerce and 280 other organizations express concerns regarding the proposed rule. The letter highlights the following two main problems:

  • Noncompetes serve vital business and employee interests. The letter states that “courts, scholars, and economists all have found that noncompetes encourage investment in employees and help to protect intellectual property. In every sector of the economy, employers rely on noncompetes to protect investments in their workforce, to protect trade secrets and other confidential information, and to structure their compensation programs.” The proposed rule would harm competition and employees.
  • The FTC lacks legal authority to issue the proposed rule. The letter points out that “Section 5 of the FTC Act empowers the Commission to pursue individual enforcement actions against ‘unfair methods of competition,’ and Section 6(g) provides narrow authority to develop internal procedural rules.” However neither of these provisions would allow the FTC to adopt substantive rules that define unfair methods of competition.

AFSA Joins Coalition Letter on Noncompete Agreements
Apr 19, 2023

Today, AFSA joined a coalition letter commenting on the FTC’s proposed rule to ban noncompete agreements. AFSA, with the U.S. Chamber of Commerce and 280 other organizations express concerns regarding the proposed rule. The letter… Read the rest

AFSA Calls on Congress to Rein in Credit Repair Scams
Apr 14, 2023

AFSA signed onto a joint trade letter urging the House Financial Services Committee to introduce legislation aimed at curbing the threat credit repair scams pose to consumers and credit markets.

As several state and federal regulators have… Read the rest

Dailey Wilson on the Safeguards Rule
Apr 13, 2023

In this edition of the AFSA Extra Credit Podcast, we tackle the soon-to-be-effective FTC Safeguards Rule. Dailey Wilson, Attorney with Hudson Cook gives us the 35,000 foot view of the rule, some of the nitty gritty that companies will have … Read the rest

Court Sides With UACC
Apr 12, 2023

Service members, their families, the vehicle finance industry, and enthusiasts for statutory interpretation won in the 4th Circuit today. A panel of judges voted 2-1 to affirm a district court opinion in Davidson v. United Auto Credit Corporation.… Read the rest

Industry Expertise | Savvy Decision Making through Rear and Windshield Views
Apr 12, 2023

AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Dan Bucherer.

Savvy Decision Making… Read the rest

Final Rules Implementing CCPA Published
Apr 05, 2023

The California Privacy Protection Agency (CPPA) recently published their final rules implementing the California Privacy Rights Act. The rules address a wide range of regulatory topics including data processing agreements, consumer… Read the rest

CFPB Releases Final Small Business Lending Rule
Apr 04, 2023

On March 30, the CFPB issued a final small business lending rule to implement Section 1071 of the Dodd-Frank Act. Under the rule, covered financial institutions will be required to collect and report to the CFPB data on applications for credit… Read the rest

AFSA Comments on CFPB Registry Rule
Apr 03, 2023

On April 3, 2023, AFSA submitted a comment letter to the  Consumer Financial Protection Bureau (CFPB) relating to its proposed rule creating a registry of contract terms (such as arbitration provisions) used by supervised non-bank financial… Read the rest

Featured Business Partner | Fortegra
Apr 01, 2023

Fortegra is the Featured Business Partner for April.

For more than 40 years, Fortegra and its subsidiaries have delivered risk management solutions that help people and businesses succeed in the face of uncertainty.

Our diverse and comprehensive… Read the rest

WATCH TODAY | Digital Solutions Make Easier Payments Possible
Mar 30, 2023

Join us TODAY at 2:00 p.m. ET for Digital Solutions Make Easier Payments Possible, presented by REPAY.

Keeping up with evolving consumer payment preferences can seem like an impossible task.

Join Stacey Precour, Senior Sales Executive, … Read the rest


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