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FPPC adopts rules tightening verification and reporting for prepaid card expense platforms (PEX, Divvy, bill.com)
Summary
The commission adopted proposed regulation 18430.1 and related amendments to strengthen verification for contract vendors who collect online contributions, limit use of prepaid gift cards for contributions, and set reporting and recordkeeping criteria allowing certain prepaid expense-account platforms (e.g., PEX) when they provide detailed, auditable records.
The Fair Political Practices Commission adopted new and amended regulations on Nov. 20 meant to curb opaque use of prepaid cards in campaigns while permitting controlled use of expense-account platforms that provide robust records.
Senior counsel Zachary Norton and supervising special investigator Lance Hachigan presented investigative findings and proposed regulatory text that narrow the prohibition on prepaid cards and create an exception for managed prepaid expense-account systems that meet detailed record-keeping and verification standards. Norton said staff identified three issues: stronger verification requirements for contract vendors collecting online contributions, limits on prepaid…
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