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Sen. Schumer Introduces Extractive Industries Transparency Disclosure Act

AMBRESH RANJAN

US Fed News

WASHINGTON, Aug. 7 -- Sen. Charles E. Schumer, D-New York, has introduced the Extractive Industries Transparency Disclosure Act (S. 3389), legislation that would "require, for the benefit of shareholders, the disclosure of payments to foreign governments for the extraction of natural resources, to allow such shareholders more appropriately to determine associated risks."

The bill, introduced on July 31, was co-sponsored by Sen. Maria Cantwell, D-Washington. It was referred to the Senate Banking, Housing, and Urban Affairs Committee.

For more information about this report, contact US Fed News through its Washington, D.C.-area office, 703/304-1897 or by e-mail at ...

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