The Federal Trade Commission issued a final rule Tuesday to ban noncompete contracts that prevent employees from joining rival companies in a move that immediately drew a legal challenge.
U.S. Chamber of Commerce President and CEO Suzanne Clark said the measure was illegal and would hurt businesses and workers.
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The Federal Trade Commission (FTC) issued a final rule Tuesday banning noncompete agreements nationwide, affecting millions of Americans.
Regulators argue that banning noncompetes will promote competition by giving workers greater ability to switch jobs, increasing innovation and leading to more businesses being created, according to an announcement from the FTC. The FTC estimates that around 18 percent of U.S. workers, or 30 million people, are covered under a noncompete, with the new rule applying to anyone not in a senior executive role, which is defined as someone who is making more than $151,164 and in a policy-making position.
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A state auditor’s office recently completed a review that found no proof there is any wrongdoing on the part of Grand Canyon University, but two federal agencies are continuing with their campaigns against the Christian university despite the findings.
The Arizona State Approving Agency, an arm of the state’s Department of Veteran Services, issued a determination Feb. 20 that risks identified by “court actions by the government” could not be substantiated, which means the private nonprofit’s students can still use GI bill funding to pay tuition.
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The latest report from the Federal Trade Commission (FTC) reveals that American adults lost a record amount of money to acts of fraud in the year 2023, totaling around $10 billion.
As reported by Axios, the number of Americans who fell victim to fraudulent scams was roughly 690,000. The average lost amount per person was $500.
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