US Senate Overturns Dodd-Frank Transparency Measure

The US Senate voted a principle requiring greater transparency in the gas, oil and mining industries by a vote of 52-47. The”Cardin-Lugar amendment,” Section 1504 of the 2010 Dodd-Frank Transparency Measures, requires companies in those industries to disclose payments to governments in the countries where they operate. The resolution and the House have already passed. The settlement goes.

Executive Director of the development firm Jubilee USA, eric LeCompte, releases the following statement:

“We’re worried how this activity will affect poor and vulnerable communities.

“Congress acted hastily and did not take the opportunity to comprehend how this action affects transparency and responsibility.

“Now a new rule has to be developed and we will need to be certain it really furthers anti-corruption efforts.”