Former President Donald J. Trump has a minor addition to his mounting pile of legal challenges after he failed to meet the deadline to disclose his personal financial holdings.<\/p>\n
But the threatened initial penalty \u2014 a meager $200 \u2014 is the latest sign of how weak federal enforcement of campaign laws has become.<\/p>\n
The personal financial disclosure will eventually provide the first look at Mr. Trump\u2019s post-presidential businesses, including his holdings in Truth Social, the social media company he helped create.<\/p>\n
\u201cPresident Trump has significant financial holdings, and we have advised the Federal Election Commission that additional time is needed to file his financial disclosure report,\u201d Steven Cheung, a spokesman for Mr. Trump, said in a statement.<\/p>\n
Mr. Trump was warned that the fee could be imposed if he does not file within 30 days of the March 16 deadline, which is later this week, in a letter from the Federal Election Commission\u2019s acting general counsel that denied his request for a third extension last month.<\/p>\n
Meredith McGehee, a longtime campaign watchdog, said, \u201cIt\u2019s very clear that former President Trump doesn\u2019t feel the law applies to him and has spent much of his career hiring legal representation to delay and distract. This is in line with his general approach.\u201d<\/p>\n
She added that the lack of teeth on the disclosure law highlighted the weak position of federal enforcement. \u201cThey kind of wag their finger,\u201d she said. \u201c\u2018No we really, really mean it\u2019 \u2014 and then generally nothing happens.\u201d<\/p>\n
But his other legal problems are far greater: His recent indictment in a hush-money case made him the first former American president to face criminal charges, and he is facing three other investigations.<\/p>\n
Mr. Trump\u2019s financial disclosures were closely tracked during his first White House run and his presidency, as they provided notable insights about the effect that holding office had on his wealth, even as income and assets were reported only in wide ranges.<\/p>\n
The disclosures, for instance, showed how the pandemic affected his luxury hospitality businesses, and brought to light gifts that he received.<\/p>\n
The disclosure law is part of corruption-fighting efforts that date back to the Watergate era.<\/p>\n
Other politicians have sought to delay and game the disclosure requirements. Michael R. Bloomberg, the billionaire former mayor of New York City, notably announced his presidential campaign in November 2019 and then dropped out \u2014 after making two extension requests that he was legally entitled to \u2014 before the disclosure requirement kicked in.<\/p>\n