Well according to this neither nor Cohen broke any laws.
A candidate is free to contribute to his or her own campaign. It also is not criminal for a candidate to pay hush money to women whose disclosures might endanger his campaign. So if candidate Trump paid hush money to his two accusers, there would be no violation of any campaign or other laws. To be sure, if he did so for the purpose of helping his campaign, as distinguished from helping his marriage, his campaign would have to disclose any such contribution, and failure to do so might be a violation of a campaign law, but the payments themselves would be entirely lawful.
Did President Trump violate campaign finance laws?
If, on the other hand, Cohen made the payments by himself, without direction from the president, that would constitute an impermissible campaign contribution from a third party. But if Cohen was merely acting as a lawyer for Trump and advancing the payments, with an expectation of repayment, then it would be hard to find a campaign finance crime other than failure to report by the campaign.
Failure to report all campaign contributions is fairly common in political circles.
Obama did the same. Didn't see anyone trying to say he committed a felony.