Consumer and commercial banks have interests that may legitimately be protected by a noncompete agreement. Such banks are in the business of using a sales force, direct mail, telemarketing, branches, the Internet and other channels to acquire or manage commercial and consumer banking products (e.g., commercial and industrial loans, commercial real estate loans, middle market and small business loans, and commercial and consumer deposits).
With a properly scoped non-compete agreement, banking business interests can be protected from encroachment by departing executives and key managers.
Originally published in Oregon Bankers Association’s Banking Matters magazine on May 20, 2014.
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