Bank Didn’t Give Unsecured Loan To Super PAC

Based on FEC documents, Roll Call reported that Mississippi Conservatives, a group supporting incumbent U.S. senator Thad Cochran in state’s June GOP primary against Tea Party challenger Chris McDaniel, took out an unsecured loan of $230,150 from Trustmark Bank in Jackson, Mississippi on January 29. However, the FEC form used by the super PAC simply asked if they were any guarantors according to its treasurer, Brian Perry. The loan doesn’t have guarantors but is instead based on cash collateral. As a result, Perry said the group is currently looking into whether to amend its FEC report to make that clear.

Daily Beast
5/13/14