Texas Senator Ted Cruz has been fined $35,000 by the Federal Election Commission for failing to disclose more than $1 million in campaign loans from Citibank and Goldman Sachs.
The fine stems from a complaint filed by Campaign Legal Center, the group said. They said Cruz got $1.1 million in loans from the banks for his 2012 Senate campaign, but incorrectly reported the loans as coming from personal funds.
“Candidates should take seriously their legal requirement to disclose where their campaign money comes from. Today’s announcement is an acknowledgement that Cruz’s campaign deprived voters of that critical information,” the CLC said.
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