Group targets DNC chair with TV ad over payday lending bill

AP News
|
Posted: May 31, 2016 6:15 AM

MIAMI (AP) — A liberal group is spending $100,000 in television ads in South Florida to call out embattled Democratic National Committee chairwoman Debbie Wasserman Schultz for not cracking down harder on what many call the predatory practices of the payday lending industry.

Allied Progress, in its 30-second ad, uses the congresswoman's recent appearance on a local public affairs show to slam her for co-sponsoring a bill that would delay the federal Consumer Financial Protection Board from regulating the business.

The ad features Wasserman Schultz saying "payday lending is unfortunately... necessary." It begins airing Tuesday in the Miami TV market.

Critics say payday lenders charge extremely high interest rates to mostly poor customers. The industry has long argued it provides a necessary financial service for those in need of emergency funds.

The ad comes as Wasserman Schultz is facing a serious challenger in the Democratic primary for Florida's 23rd congressional district seat and has come under fire from Democratic presidential candidate Bernie Sanders.