On May 15, the Federal Election Commission finally ruled on the extent to which a candidate for federal office may receive additional contributions from contributors who had already given the maximum, when the candidate’s campaign treasurer embezzles the money from the original contribution. The FEC ruled that if a contribution was deposited into any bank account controlled by the treasurer, that money cannot be replaced with a new contribution.
The ruling had been requested by U.S. Senator Dianne Feinstein, back in January. The only relief the FEC gave her is that if the original contribution was never deposited into any bank account connected with the campaign treasurer, then that contribution is deemed never to have existed, and the campaign can seek a new contribution.
Will candidates now get insurance against having FELON treasurers who steal the campaign cash ???
or more likely – require a zillion folks to sign the larger checks.