Not Wasting Time: Businesses Sue to Overturn FTC Non-Compete Rule

Also, trade groups warn FDIC about bank-stock effort; SEC releases comprehensive data on mutual fund activities; Fed and OCC will take comments on Capital One-Discover deal for another month

That didn’t take long. Less than 24 hours after the FTC finalized its ban on non-compete clauses, two lawsuits seeking to overturn the policy have already been filed – in Texas, of course. While the challenges were expected, the court papers contain some interesting wrinkles - and illustrate that the agency may have to overcome some substantial legal hu…