Background On April 23, 2024, the Federal Trade Commission (“FTC”) voted to adopt a rule (the “FTC Rule”) that, as a matter of federal law, bans “non-compete” contract clauses as “unfair methods of competition,” with few exceptions and requires...
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The Corporate Transparency Act: Lender Considerations
Introduction As the requirements of the Corporate Transparency Act (“CTA”) phase in to cover companies in 2024 and 2025, many borrowers and guarantors will have new reporting obligations with stiff penalties for non-compliance. These penalties...
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