U.S. Rep. Debbie Wasserman Schultz's position on payday loans is the subject of an attack on billboards in her Broward/Miami Dade congressional district.
The liberal group Allied Progress posted two billboards in the district today -- on the turnpike and Interstate 75 -- and they will remain up May 1.
President Barack Obama took a step toward regulating the industry when he signed a bill in 2010 that included the creation of the Consumer Financial Protection Bureau. The bureau released a draft outline of payday rules last year and is expected to release a more complete proposal over the next several months.
Wasserman Schultz, a Weston Democrat, is the co-sponsor of a bill authored by U.S. Rep. Dennis Ross, a Florida Republican, that would give preference to Florida's payday law rather than giving the power to the federal government. Half of the 24 cosponsors are from Florida and nine are Democrats. A spokesman for the group says it will launch similar attacks against others who have supported the bill which hasn't had a hearing yet.
Many consumer advocates have urged Congress to defeat the law and argue that Florida's law has failed to protect the poor who remain on a debt cycle when they take out payday loans.
Allied Progress launched a TV attack against Wasserman Schultz -- who is also the Democratic National Committee chair -- for her position on payday loans during the Florida presidential primary. Her Democratic opponent Tim Canova has echoed the attacks.
Wasserman Schultz has taken $68,000 from payday lenders, according to the Center for Responsive Politics. Her spokesman Sean Bartlett has defended her record on payday loans and says she wants Florida's law to take precedence.
Turn to PolitiFact Florida for more details about the payday loan bill.
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