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Bank Calls Ethics Law Unethical

JEFFERSON CITY, Mo. (CN) - A Missouri bank is trying to block a new state ethics bill. Legends Bank and its president John Klebba claim the law - which, among other things, prohibits political committees from giving money to one another - limits the bank's ability to participate in the political process.

Legends and Klebba want the Cole County Court to enjoin enforcement of the bill, which was one of the most controversial measures lawmakers faced during their last session.

The law, passed on the last day of the session, creates the state crime of obstructing an ethics investigation and bans political committees from giving money to one another.

Legends Bank claims the law has disqualified banks chartered under a specific chapter of state statute from making political donations.

The complaint also contains a Hammerschmidt challenge, which claims that since the bill dealt with multiple subjects - such as ethics, campaign finance and the state purchasing process - it should be invalidated.

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