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Labor Secretary Nominee Acosta Files Proper Paperwork for Confirmation

Labor Secretary Nominee Acosta Files Proper Paperwork for Confirmation

Paperwork shows little conflicts or complications.

President Donald Trump’s nominee for Labor Secretary Alexander Acosta has filed his financial disclosure and ethics paperwork a week before his confirmation hearing. The paperwork has shown “an uncomplicated financial situation for the law school dean” and “very few financial entanglements.” The Wall Street Journal continued:

His only apparent encumbrance is tied to warrants he received from U.S. Century Bank in Miami, for which he serves as chairman. In his ethics agreement, Mr. Acosta pledged to not participate in any matter involving the bank until he has divested from it, unless he first obtains a waiver. He’s prepared to forfeit warrants that would have vested in 2018, 2019 and 2020, and will forgo his 2016 bonus if it isn’t received before becoming secretary.

His financial situation is the latest factor showing Mr. Acosta is likely to have a smoother path to confirmation than Mr. Puzder. The former government attorney has already worked in two federal agencies and has won praise for his civil rights work with Muslim-Americans and efforts to open up law school to Latino students.

The paperwork showed Mr. Acosta had less than $1 million in four investment accounts, the largest amount in a CREF Growth fund.

He received $379,620 in salary during 2016 and so far this year from Florida International University, the paperwork showed. He received $170,000 in director fees from U.S. Century Bank during that time.

Mr. Acosta said he would resign from both positions if confirmed as labor secretary.

The Senate Health, Education, Labor and Pensions Committee scheduled Acosta’s confirmation hearing next Wednesday at 1:30PM ET.


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