03/28/2008 02:44 am ET | Updated May 25, 2011

FEC Hits Swift Boat Veterans For Truth With $300,000 Fine...

Is the era of the millionaire-backed attack group coming to an end?

The Federal Election Commission hit the Swift Boat Veterans for Truth with a $299,500 fine today for playing too fast with election rules. The Swift Boat Vets were a "527" organization, which has no limits on contributions, but were acting like federal political committees, the FEC charged. 527s are allowed to work for or against certain candidates, but if they have no other "major purpose," according to FEC spokesman Bob Biersack, then they should register as a committee.

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