Labor Department announces final rule on union reporting reform

The Department of Labor recently released its final rule on union financial disclosure requirements. The department noted it will provide accountability and disclosure of union accounting practices, as required by the Labor-Management Reporting and Disclosure Act.

Under the new rule, which will take effect Jan. 1, 2004, unions will be required to disclose much more detailed information about their receipts and disbursements of funds, with much of this information becoming available to the general public.