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Newly elected U.S. Representative Ross Spano has admitted to receiving more than $175,000 in personal loans from friends and funneling the loans into his political campaign, a possible violation of federal regulations.

Payday loan providers are asking for more options and extended repayments. They argue it will give borrowers more flexibility but opponents say it’s a trap for low-income borrowers. 

Injunction Overturned In Consumer Loan Fight

Aug 2, 2015

An appeals court Friday tossed out a temporary injunction that Attorney General Pam Bondi and the state Office of Financial Regulation sought amid a legal fight about high-interest consumer loans.

Defendants in the case have contended that the loans are not subject to Florida law because they were made by Western Sky Financial LLC, which is owned by a member of the Cheyenne River Sioux Tribe and does business from within the Cheyenne River Indian Reservation in South Dakota, said the ruling by the 2nd District Court of Appeal.