From the CNN story (Beep's link):
The inquiry focuses on lobbying contracts worth $1 million that Weldon's daughter, Karen Weldon, obtained from foreign clients and whether the congressman helped steer them, they said. They spoke on condition of anonymity because of the confidentiality of the criminal investigation.
Weldon, a 10-term Republican from the Philadelphia suburbs, long has denied any wrongdoing, and his top aide said Saturday no one had notified him of an investigation.
Emphasis added. Thus, it seems that it's not a new story - it's only new that the FBI is looking into it. For instance, [link|http://findarticles.com/p/articles/mi_m1316/is_4_36/ai_n6006936|here's a story from 2004 about some of her lobbying efforts], and another from [link|http://www.harpers.org/sb-curt-weldon-kim-employment.html|April 2006].
Whether anything new will, or should, happen as a result of the FBI inquiry, I have no idea. It may be a big deal, or it might not. On the surface, it looks like influence pedling and coupled with the Abramoff scandals, it looks bad.
FWIW.
Cheers,
Scott.