Who's Calling? Third-Party Telephone-Fundraiser Disclosure Reform

INTRODUCTION ..................................................................................... 397 I. THE THREAT OF TPFS: EVERYONE UNDERSTANDS THE GAME EXCEPT THE CONSUMER ................................................. 398 II. CONSTITUTIONAL BARRIERS: RATIOS AND DISCLOSURES ........ 402 A. Pre-Riley: A Reasonable Compromise ............................... 402 B. Riley: Taking Away Valuable Information ......................... 404 III. REEXAMINING THE RATIONALE FOR THE CONSTITUTIONAL LIMITS. ....................................................................................... 406 A. Riley and the Commercial Speech Doctrine ....................... 406 B. The Do-Not-Call List .......................................................... 409 C. Public Forums and Content-Neutrality .............................. 410 IV. CURRENT STATE SOLUTIONS: REGISTRATION AND BONDS ....... 412 V. PROPOSALS UNDER THE CURRENT STRUCTURE: DISCLOSURES, CONTRACTS AND WATCHDOGS ......................... 414 VI. REJOINDER TO POLICY CRITICISM ............................................. 417 CONCLUSION ......................................................................................... 418