Millions of workers are subject to noncompete agreements. They could soon be banned

The FTC proposed a new rule banning noncompete agreements. Federal Trade Commission chair Lina M. Khan calls them exploitative and widespread. (Graeme Jennings/Getty Images)

The Federal Trade Commission took an a bold move on Thursday aimed at shifting the balance of power from companies to workers.

The agency proposed a new rule that would prohibit employers from imposing noncompete agreements on their workers, a practice it called exploitative and widespread, affecting some 30 million American workers.