FTC Expected to Vote in 2024 on Rule to Ban Noncompete Clauses

The Federal Trade Commission is expected to vote next April on the final version of its proposal to ban noncompete agreements in employment contracts, according to a person familiar with the matter.

The agency received nearly 27,000 comments on the draft rule proposed in January. Banning most noncompetes would impact about 30 million Americans and boost wages by nearly $300 billion per year, the FTC estimated.

The commission will follow a process similar to rulemaking at other federal agencies, especially given the high number of comments, according to the person. Staff will consider changes to the rule once they’ve reviewed ...