Federal Election Campaign Financing Reform Act

Federal Election Campaign Financing Reform Act - Title I: Board of Elections and Ethics - Establishes the Board of Elections and Ethics which shall have the power: (1) to require any person to submit in writing, within such reasonable period and under oath or otherwise as the Board may determine, such reports and answers to questions as the Board may determine are necessary to assist the Board in executing its duties; (2) to administer oaths; (3) to require by subpena, signed by the President, his delegate, or the Vice Chairman, the attendance and testimony of witnesses and the production of documents relating to the execution of its duties; (4) in any proceeding or investigation, to order testimony to be taken by deposition before any person who is designated by the Board and has the power to administer oaths, and, in such instances, to compel testimony and the production of documents; (5) to pay witnesses the same fees as are paid in like circumstances in the courts of the United States; and (6) to initiate (through civil proceedings for injunctive relief and through presentations to Federal grand juries), prosecute, defend, or appeal any court action in the name of the Board for the purpose of enforcing the provisions of this Act, through the General Counsel of the Board.

Provides that the Board shall appoint a General Counsel and a Director.

Title II: Federal Election Campaign Bank - Establishes the Federal Election Compaign Bank.

Requires every political committee and every candidate for Federal office, within a reasonable time after becoming a candidate, to establish an account at the Bank.

Requires any contribution received by or on behalf of any candidate for Federal office or any political committee to be deposited in the account of such candidate or political committee at the Bank within a reasonable time after the receipt of such contribution.

Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this title.

Title III: Study by Board of Elections and Ethics - Provides that the Board shall conduct a study of the following: (1) the establishment and maintenance of uniform accounting systems with respect to contributions to and expenditures on behalf of candidates for Federal office and political committees, with a view toward insuring an effective monitoring of such contributions and expenditures; (2) the general problem of conflicts of interest with respect to the President, the Vice President, and other officers and employees of the executive branch of the Federal Government, officers and employees of the judicial and legislative branches of the Federal Government, Members of the Congress, and judges of the courts of the United States: (3) ways in which the Board may function in an advisory capacity with respect to problems concerning conflicts of interest of such officers and employees, Members of the Congress, and judges; (4) procedures through which the Board may monitor and review fund-raising and other financial activities of persons holding Federal office; and (5) methods and procedures through which any such conflicts of interest may be monitored, controlled, and eliminated.

Requires the Board to, within one year after the appointment of its members, report to the Congress on such study.

States that the study shall contain a detailed statement of the Board's findings, together with recommendations for any legislative or other action which the Board deems appropriate.