A group of Democratic lawmakers is seeking information from Cantor Fitzgerald about how the firm may have benefited on a deal from its ties with Commerce Secretary Howard Lutnick.
In a letter to Cantor Fitzgerald Chairman Brandon Lutnick, the commerce secretary's son, the lawmakers raised concerns about potential violations of conflict-of-interest laws related to the U.S. government's $1.6 billion investment in USA Rare Earth, according to a copy of the letter viewed by The Wall Street Journal.
Cantor Fitzgerald was led by Howard Lutnick for more than 30 years before he handed its ownership to his children. The firm, which had previously worked with USA Rare Earth, acted as the lead placement agent on the company's private share offering in connection with the government's investment.
The letter requested information about how Cantor was selected for the assignment and any fees it collected for its role. The letter, signed by Sens. Elizabeth Warren (D., Mass.), Ron Wyden (D., Ore.) and Chris Van Hollen (D., Md.), as well as Rep. Zoe Lofgren (D., Calif.), also requests other details, including about any meetings between the firm and Commerce Department officials.
A Cantor spokesman said in a statement that the firm had no role in USA Rare Earth's negotiations with or financing from the government, including anything involving the elder Lutnick. He added that Cantor has a longstanding commercial relationship with the company that predates Lutnick's government appointment.
Democratic lawmakers earlier this year sent similar requests for information to the elder Lutnick and USA Rare Earth Chief Executive Barbara Humpton seeking details of the deal. The new letter to Cantor Fitzgerald says the commerce secretary has "refused to provide answers," leading to a broader inquiry that includes the firm.
A new letter was also sent to Humpton seeking information. The lawmakers cited Humpton's past comments about the elder Lutnick helping USA Rare Earth, and asked for details on Lutnick or other Commerce Department officials' involvement in the private investment.
Howard Lutnick's sons and other Cantor executives have maintained that the elder Lutnick has no knowledge of or involvement with firm matters.
In the USA Rare Earth deal, announced in January, the government agreed to supply up to $1.6 billion in loans and federal incentives for the company, in exchange for a significant ownership stake. USA Rare Earth also raised $1.5 billion in a share offering from private investors as part of the deal, according to the letter.
The deal was finalized in June.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
July 07, 2026 12:18 ET (16:18 GMT)
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