Revised LM-2 (Union Financial Disclosures)

As a requirement of the Labor-Management Reporting and Disclosure Act, unions provide financial information to the Department of Labor annually via Form LM-2 (LM-3 for smaller unions).  This information is publicly available to anyone wanting to see it.

 

LM-2 forms mainly cover the receipt and disbursement of union dues and funds that are collected by one part of the union and forwarded to another part.  The LM-2 does not cover contributions to candidates or ballot initiative campaigns by union-controlled PACs, nor does it cover union pension or health care benefit funds.

 

Over the past few years, the disclosures on LM-2s have caused legal problems for unions.  The Obama administration plans on revising the form – but to what extent is not yet determined.  However, it is anticipated that the changes will be to conceal much of the information that has caused trouble for unions in the recent past.

Advertisements

4 Responses

  1. It looks like our new President has been bought and sold by the labor unions who in this past election cycle have spent over 500 Million dollars to get Obama and the democratc congress elected.

    Now it looks like the unions are coming to cash their checks.

  2. […] to its LM-2, the SEUI (who just launched an $85 million campaign) spent slightly more than $73,000 on […]

  3. […] to the LM-2s.  Thus, Obama killed the increased financial reporting requirements.  Earlier, I reported that Obama plans on changing the LM-2 requirement, but no one knows to what extent (and now we can assume not to the extent that Bush did).  I […]

  4. […] the rule that required more information be contained in LM-2?  And remember when we discussed how Obama’s team planned on revising the LM-2, but we didn’t know to what extent?  And if you remember those, then you’ll remember […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: