GOP Groups, Fannie Mae to Pay FEC Fines

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U.S. Government - AP

GOP Groups, Fannie Mae to Pay FEC Fines

Wed Mar 3, 6:17 PM ET Add U.S. Government - AP to My Yahoo!


By SHARON THEIMER, Associated Press Writer

WASHINGTON - The Republican National Committee (news - web sites), Senate Republicans' fund-raising arm and Fannie Mae are paying fines to settle a case over improper use of political donations from the mortgage giant.

Under an agreement with the Federal Election Commission (news - web sites), the RNC was to pay a $98,000 civil penalty, the National Republican Senatorial Committee faced a $24,000 fine, and Fannie Mae was to pay $10,000.


The FEC said Wednesday it found some donations from Fannie Mae to the party committees from 1998-2000 weren't deposited in the one type of account the committees were allowed to accept the money for: building funds that weren't used for election costs. The commission began an inquiry after the National Taxpayers Union filed a complaint in 2001 about the contributions.


Fannie Mae, formally known as the Federal National Mortgage Association, is a congressionally chartered corporation. Federal law bars such government-backed corporations from making contributions or spending in connection with any election.


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