ABSTRACT
Several laws regulate the conduct of unions and their officers in the management of finances. These laws include the National Labor Relations Act, as amended by the Labor Management Relations Act of 1947 (Taft-Hartley) and the Labor Management Reporting and Disclosure Act of 1959 (Landrum-Griffin). These laws impose fiduciary responsibilities on union officers, prohibit them from accepting payments from corporations, and mandate the honest reporting and disclosing of financial information. In addition, federal labor law prohibits “company unionism,” which occurs when a company essentially exerts financial influence over a union. Other laws also bear on the prosecution of financial wrongdoing among unions. The 1970 Racketeering Influenced and Corrupt Organizations (RICO) Act plays a key role in this regard.
