Labor Department Moves to Require More Union Financial Reports

The Department of Labor is putting in motion a long-stalled plan to require unions to file additional annual financial reports related to trusts.

Trusts typically are used by labor unions for a variety of purposes, from funding apprenticeship programs to paying out death benefits to survivors, according to Michael Hayes, an associate professor of law at the University of Baltimore and the former director of the Office of Labor-Management Standards under President Barack Obama. The new rules could lead to decreased apprenticeship funding and reduced benefits to union members, Hayes said.

The OLMS announced its proposed rules May 30 and ...