Chamber opposes FTC's proposal to ban non-compete clauses
Senate Democrats Elizabeth Warren and Sheldon Whitehouse took a hit at the Chamber of Commerce for its opposition of the Federal Trade Commission's (FTC) proposal to ban non-compete clauses.
The Chamber had previously threatened to sue the FTC should it go through with the proposal. However, that threat “represents exactly the type of ‘frivolous litigation’” that the Chamber claims to oppose, they said.
“The Chamber’s description of noncompete agreements as a tool for ‘fostering innovation and preserving competition’ is demonstrably false, and represents exactly the kind of Washington insider doublespeak that big business has been using for years to justify anti-worker and anti-consumer policies,” they said.
Pushing through with their threat would mean that the Chamber owe its member companies – and those members’ customers and workers – “an explanation for undermining” the Chamber’s stated values by “opposing this business-, worker-, and consumer-friendly policy”.
The FTC proposed the new rule that would ban employers from imposing non-compete clauses on their employees back in January. This could increase workers’ wages by $300 billion a year, according to the FTC.
The proposed rule essentially prohibits all non-compete agreements except those entered as part of the sale of a business and requires employers to rescind all non-compete agreements currently in place, and to do so within 180 days of the date of the...
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