One congressman forgets $ 55,000 in personel loans cash

A huge personal cash loan is easy to forget, right?. New York congressman Gregory Meeks from Queens, nevertheless, apparently just “forgot” more than $ 55,000 in personnel loans. As a senior member of the House Financial Services Committee, Meeks is one of the senior representatives from New York.

Article Resource: Gregory Meeks forgets to disclose $ 55,000 in personal loans

Gregory Meeks’ “oversight”

Gregory Meeks evidently had two personal loans that he "neglected" in an "oversight" to list on his financial disclosure statements. Gregory Meeks refused to provide data on the purpose or progeny of the loans. These loans were one $ 40,000 loan in 2007 and one $ 15,000 loan in 2008. Both of these loans were listed as “personal short term loans.” A Queens-area businessman also has one loan to Meeks that is worth "between $ 50,000 to $ 100,000.

Financial disclosure requirements

Any member of the U.S. House has to disclose quite a bit about their financial situation. These disclosures are due by May 15 of each year and list assets, liabilities, incomes, gifts, board membership and real estate. Gregory Meeks’ 2009 disclosure was filed about a month late, which prompted inquiries. Meeks says the disclosure was late because he wanted to take on a full and careful review of his finances. Technically, these disclosures are intended to be public, though the House Clerk and Secretary of State, with whom they must be filed, don’t post these disclosures online.

Will Gregory Meeks be charged?

There may be disciplinary action for Gregory Meeks because of this $ 55,000 "oversight". House Rule XXVI states that Gregory Meeks could possibly be charged with a violation of the ethics code . Gregory Meeks' constituents could, legally, bring up legal action against their representative. Most likely, however, Meeks will not face charges unless you will find improprieties within the administration of these “small” cash loans. It can be up to the voters to decide within the next election whether Gregory Meeks should face consequences or not.