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FEC fines Ted Cruz campaign $35,000

Ted Cruz stands at a hearing in a gray suit.
Senator Ted Cruz. Photo: Chip Somodevilla/Getty Images

Ted Cruz's (R-TX) 2012 senate campaign failed to disclose $1 million in loans from Goldman Sachs and Citibank, CBS News reports, for which the campaign was fined $35,000 on Friday.

What's happening: The FEC received a complaint from the nonpartisan Campaign Legal Center in 2016 about the failure to disclose this campaign finance information.

"As has repeatedly been reported, the loans were public at the time and fully disclosed on Senate ethics disclosures, but they weren't reported correctly on the FEC forms."
— Ted Cruz, in a statement to the Hill on Friday