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Federal Election Commission | United States of America
  • Press Release

Compliance Case Made Public

February 23, 2004

For Immediate Release
February 23, 2004		 Contact: George Smaragdis
Bob Biersack
Ian Stirton
Kelly Huff
COMPLIANCE CASE MADE PUBLIC

WASHINGTON -- The Federal Election Commission has recently made public its final action on one matter previously under review (MURs). This release contains only disposition information.

 

1. MUR 5198  
     
  RESPONDENTS: (a) Honorable Maria Cantwell

(b) Cantwell 2006, Keith Grinstein, treasurer

(c) U.S. Bank National Association
  COMPLAINANTS: National Legal and Policy Center, Kenneth F. Boehm, Chairman
  SUBJECT: Corporate contributions in the form of improper bank loans; failure to properly disclose bank loans
  DISPOSITION: (a-c) No reason to believe [re: corporate contributions in the form of improper bank loans]

(b) Reason to believe, sent admonishment letter [re: reporting bank loans]

The complaint alleged that U.S. Bank violated the Act by making two improper loans, a $600,000 line of credit and a $4,000,000 line of credit, to Maria Cantwell 2000 Senate campaign. Specifically, the complaint alleges that the $600,000 line of credit was not secured with sufficient collateral and that both the $600,000 and $4,000,000 lines of credit were obtained at a preferential interest rate. However, the evidence showed that the $600,000 line of credit was made on a basis that assures repayment and that each loan bore the usual and customary interest rate.

The Cantwell committee failed to timely report complete loan information by omitting Schedule C-1 from their original reports. In light of the no reason to believe findings regarding the corporate contributions, the apparent inadvertent nature of the omissions and the prompt corrective action taken before the initiation of the enforcement action, an admonishment letter was sent.
  DOCUMENTS ON PUBLIC RECORD: Documents from this matter are available from the Commission’s web site at fec.gov by entering 5198 under case number. They are also available in the FECs Public Records Office at 999 E St. NW in Washington.

 

*There are four administrative stages to the FEC enforcement process:

1. Receipt of proper complaint 3. "Probable cause" stage
2. "Reason to believe" stage 4. Conciliation stage

It requires the votes of at least four of the six Commissioners to take any action. The FEC can close a case at any point after reviewing a complaint. If a violation is found and conciliation cannot be reached, then the FEC can institute a civil court action against a respondent.

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This information is not intended to replace the law or to change its meaning, nor does this information create or confer any rights for or on any person or bind the Federal Election Commission or the public.

The reader is encouraged also to consult the Federal Election Campaign Act of 1971, as amended (52 U.S.C. 30101 et seq.), Commission regulations (Title 11 of the Code of Federal Regulations), Commission advisory opinions and applicable court decisions.