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by Kathy Gill. Updated May 03, 2017. The McCain-Feingold Act is one of the several federal laws that regulates the financing of political campaigns. It is named after its chief sponsors, Republican U.S. Sen. John McCain of Arizona and Democratic U.S. Sen. Russell Feingold of Wisconsin.
In 1999, McCain voted for the GrammâLeachâBliley Act, which passed in the Senate by a vote of 54â44. The deregulation bill loosened restrictions on the activities of banks, brokerage houses, and insurance companies. In 2002 he voted for the SarbanesâOxley Act, which passed the Senate without opposition.