Cruz fined $35K by FEC for not adequately disclosing loans from banks

The Federal Election Commission (FEC) fined Sen. Ted Cruz (R-Texas) $35,000 for failing to adequately disclose loans he had obtained for his 2012 Senate bid. The fine stems from a 2016 complaint filed by the nonpartisan Campaign Legal Center (CLC) over loans he had received from Goldman Sachs and Citibank, a bulk of which he injected into his campaign as personal funds. Overall Cruz injected more than $1 million in personal funds into his campaign.

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