Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Union Corruption Eyed in New Rule to Boost Financial Oversight

March 5, 2020, 5:06 PM

The Labor Department finalized a rule requiring unions to disclose financial information about their credit unions, strike funds, apprenticeship programs, and other types of trusts.

The Trump administration wants to increase union transparency and curb officer corruption, citing the recent United Auto Workers corruption scandal as a reason why regulatory action is necessary. The regulation had stalled under President Donald Trump’s previous labor secretary, but the final rule released Thursday is likely to face a legal challenge from unions.

Business groups and political conservatives support the rule, contending that additional scrutiny of union spending helps ensure members know how their ...