Monitors Say McCain Did Not Violate Finance Laws

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Washington (AP) A draft opinion from the federal election commission says John McCain has not violated any campaign finance laws while running for president.

The dispute began with a loan McCain took out late last year. It wasn't directly secured by his potential access to public funds, but McCain agreed to reapply for public funds and use that money as collateral for the loan if he lost early primary contests.

The Democratic National Committee says McCain violated a section of finance law that bars candidates from withdrawing from the public system if they've “pledged public funds as security for private financing.”

FEC lawyers say McCain never made that pledge, and thus didn't violate the law.

The FEC should formally vote on the matter next week.