Allied Finance Adjusters Urges Action on FTC Non-Compete Agreement Proposal

Attention Needed Now!

If you operate your repossession company as a small business, and if you utilize or have an interest in, non-compete clauses to keep former employees from taking the training that cost you time and money and using it for the benefit of a competing business (whether their own or someone else’s), your VOICE is desperately needed!

The federal government, in the form of the Federal Trade Commission, is planning to make all non-compete agreements illegal in every state and in every vocation. This new rule will even make all already-standing non-compete agreements unenforceable without regard to how it affects the benefit of the bargain the investing employer has made. The government is taking comments on this proposed rule until March 15, 2023. We ALL need to make our voices known on this issue!

PLEASE post a comment to the government website before the comment period ends. Many small business owners, and almost all employers, cannot afford for this rule to be made into law. Your comment does not need to be technical or formal sounding. The FTC just needs to know that the taxpaying public does not want this rule to become law. (You can post positive comments about the proposed rule, if you happen to be of the opinion that we need more government regulation in our lives.)

To comment, go to www.regulations.gov and search: Non-Compete Clause Rulemaking, Matter No. P201200. To be safe about the way they want the comments submitted, type that into the top line of your comment as well. Then voice your opinion on the proposed rule to make all non-compete agreements illegal. You will have to input your name, email and phone number. When you submit the comment, you will receive a comment tracking number so that you can monitor whether/when they read your comment. They could actually respond to you to ask for more input. But they are supposed to actually read all the comments and take them into consideration when deciding whether to implement the proposed rule.

When the government creates heavy-handed rules, many people say, “They never asked me.” But in this instance, they have asked us! So, let’s raise our voice to stop more government overreach!