Comments on the Financial Aspects of Republican Campaign Financing

A Congressional committee requested that GAO conduct an investigation into various financial aspects of the Republican campaign financing particularly as they relate to the Watergate case and to the banking system of the United States. The regulations pertaining to this care are contained in the Federal Election Campaign Act of 1971. In the review, GAO reviewed information on checks received from campaign contributors, as well as the application procedure of a Minnesota bank for a national bank charter. GAO found that either the bank did not comply with regulations in effect for filling out the application or, if they were filed, they were not forwarded to GAO for examination.