Ethics in Foreign Lobbying Act of 2007 - Amends the Federal Election Campaign Act of 1971 to prohibit contributions and expenditures in federal elections by multicandidate political committees or separate segregated funds sponsored by foreign-controlled corporations and associations (at least 50% owned by a non-U.S. citizen or foreign national). Sets forth ownership and operating fund reporting requirements.
Prohibits a foreign national from participating in the decision-making process of any person's election-related activities (such as those of a corporation, labor organization, or political committee). Establishes within the Federal Election Commission a clearinghouse of existing public information regarding the political activities of foreign principals and agents of foreign principals. Amends the Foreign Agents Registration Act of 1938, as amended, to: (1) revise foreign agents' supplemental reporting requirements; and (2) provide civil penalties for specified reporting violations.