Ethics committee reviews loans to NY Rep. Meeks

AP News
Posted: Aug 05, 2011 4:40 PM
Ethics committee reviews loans to NY Rep. Meeks

The House Ethics Committee has dismissed an allegation that Rep. Gregory Meeks received an improper home equity loan last year.

The committee said the $59,650 loan was made on reasonable terms and was supported by a written agreement establishing an interest rate, collateral and repayment terms.

The committee said it is still reviewing whether the New York Democrat failed to disclose, in a timely manner, a separate $40,000 payment he received in 2007 from a personal friend.

The House Office of Congressional Ethics, a panel that does preliminary reviews of potential misconduct, said the 2007 loan appeared to lack a set interest rate or repayment terms of a legitimate loan. If so, it could be an improper gift. In 2010, Meeks amended his disclosure form to report the loan.