DNC v. McCain, the complaint and the bank's letter
Reuters reports: The Democratic Party asked the U.S. government on Monday to investigate whether Republican presidential candidate John McCain has violated campaign-finance laws by exceeding spending limits he agreed to last year.
In a letter to the Federal Election Commission, the Democratic National Committee said McCain has probably surpassed the roughly $50 million limit he agreed to observe when he applied for public funding last year.
McCain, the front-runner for the Republican nomination to contest November s presidential election should not be allowed to withdraw from the public-funding system now that he no longer needs it, the DNC argued. -- Democrats criticize McCain over campaign finance - washingtonpost.com
AP reports: Lawyers for the bank that provided a crucial $4 million line of credit to John McCain's campaign late last year said Monday that the loan agreement was carefully drafted to give McCain the opportunity to withdraw from public financing during the primary elections.
In a letter obtained by The Associated Press, the outside counsel for Fidelity & Trust Bank said the loan terms specifically excluded from the collateral any potential share of public matching funds the Arizona senator was entitled to receive.
The letter, from lawyers Matthew S. Bergman and Scott E. Thomas to McCain lawyer Trevor Potter, supports McCain's stance against claims that his withdrawal from public financing is in jeopardy. -- Bank explains terms of McCain loan
Documents to download:
DNC's complaint
Exhibits 1-3
Exhibit 4
Exhibit 5
Exhibits 6-7
Note: If anyone has the bank's letter to McCain's lawyer, please email it to me.