Campaign Finance Transparency Act

Key Points

• Online donors to federal campaigns must now provide their card security code (CVV) and billing ZIP code when making credit or debit card contributions. This makes it harder for someone without the physical card to donate fraudulently.
• Campaigns would be banned from accepting donations made with gift cards. The name on the credit or debit card used must match the name of the actual donor, preventing people from hiding who is really giving money.
• U.S. citizens living abroad must provide extra identification like a passport or voter registration address to donate online. Permanent residents must show a green card or comparable DHS-issued document.
• The current $200 reporting threshold would be eliminated, meaning campaigns must report every single donation to the FEC regardless of size. This is a major expansion of public disclosure that would apply to millions of small-dollar donors.
• The bill creates a new crime for knowingly helping someone else make a donation under another person's name. Campaigns that suspect this is happening would be required to report it to the FEC.
• The FEC must write regulations within 90 days of the bill becoming law, consulting with payment card networks. The new rules take effect 90 days after those regulations are finalized, meaning roughly a 6-month rollout.