A Case in Point: When and How to Use Non-Compete Agreements for Bank Executives and Key Managers

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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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Topics:  Banks, Non-Compete Agreements, Restrictive Covenants

Published In: General Business Updates, Finance & Banking Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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