March 6, 2020 / 12:02 AM / a month ago

DOL issues final rule requiring financial reports from union trusts

The U.S. Department of Labor on Thursday released a final rule requiring unions to file financial disclosure reports about trusts that they control, saying it would increase transparency and help stem corruption.

The rule, which will be formally published on Friday, is similar to one the George W. Bush administration adopted in 2008, which the Obama administration rescinded two years later. Unions had said that the Bush-era requirements were burdensome and that DOL lacked the authority to adopt them.

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