WASHINGTON -- The Government Finance Officers Association gave qualified support yesterday to a proposed rule that would crack down on political contributions by municipal dealers, but the National League of Cities blasted the plan as a "quick fix" that will not work.

The groups made their remarks in written comments filed with the Municipal Securities Rulemaking Board on a two-part rule that the board proposed on Aug. 30. The proposal came in the wake of widening reports of influence peddling activities in New Jersey and other states this year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.