The International Brotherhood of Teamsters last week announced that its recent deal with regulators to end the quarter-century of oversight of its finances and operations has been approved by a federal judge, and a five-year phase-out schedule will begin this year and end in 2020.
The agreement reached recently between the federal government and the Teamsters ends a 1989 agreement reached between the union and the U.S. Justice Department. The deal was struck 25 years ago by the Teamsters to avoid a lawsuit brought by the federal government.
The oversight will cease in 2020, according to the new agreement.
“This is an historic agreement that returns our great union to our 1.4 million Teamster members,” said James P. Hoffa, Teamsters general president. “Our union is committed to the democratic process, and we can proudly declare that corrupt elements have been driven from the Teamsters and that government oversight can come to an end.”
