Democratic senators flagged conflict of interest concerns over the involvement of Commerce Secretary Howard Lutnick’s former firm, Cantor Fitzgerald, in a deal with critical minerals startup [USA Rare Earth.](https://www.cnbc.com/quotes/USAR/)
“It is imperative that federal investments in critical industries be made free from conflicts of interest and on the merits,” the senators told Lutnick in the letter dated Feb. 25, requesting more information about his involvement in the transaction.
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Democratic senators flagged conflict of interest concerns over the involvement of Commerce Secretary Howard Lutnick’s former firm, Cantor Fitzgerald, in a deal with critical minerals startup [USA Rare Earth.](https://www.cnbc.com/quotes/USAR/)
Sens. Elizabeth Warren of Massachusetts, Chris Van Hollen of Maryland, and Ron Wyden of Oregon, the top Democrat on the Finance Committee, said in a letter obtained by CNBC that [the deal](https://www.cnbc.com/2026/01/26/how-the-usa-rare-earth-deal-with-the-trump-administration-came-together.html) raises questions about whether Lutnick’s immediate family members may have benefited financially.
“It is imperative that federal investments in critical industries be made free from conflicts of interest and on the merits,” the senators told Lutnick in the letter dated Feb. 25, requesting more information about his involvement in the transaction.
More details: [https://cnb.cx/4rhrIrT](https://cnb.cx/4rhrIrT)
Then they do insider trading and nothing else happens.