Feuding labor unions agree to settle bitter dispute over assets and membership

Feuding labor unions settle bitter dispute

WASHINGTON — Two of the nation’s most prominent labor unions have agreed to settle a bitter, nearly two-year long dispute that led them to raid each others’ members.

The settlement between the Service Employees International Union and UNITE HERE would transfer ownership of New York-based Amalgamated Bank — the nation’s only union-owned bank — to SEIU if regulators approve the deal.

Leaders of both unions say it was time to resolve a fight that had become a distraction in the labor movement.

UNITE HERE represents about 250,000 workers in the hotel, restaurant and gaming industries. SEIU has about 2 million members in the health care and service industries.