Cornyn targets James, Schiff with tough LETITIA legislation

Senator John Cornyn, R-Texas, has thrown a legislative haymaker at public officials accused of financial misconduct with a bold new bill that’s got tongues wagging.

Named the Law Enforcement Tools to Interdict Troubling Investments in Abodes (LETITIA) Act, this proposed legislation aims to slap harsher penalties on elected officials caught committing federal bank fraud, tax fraud, or loan and mortgage fraud, specifically targeting high-profile figures like New York Attorney General Letitia James and Senator Adam Schiff (D-CA).

Let’s rewind a bit—allegations of mortgage fraud against James and Schiff have been making headlines, prompting Cornyn to step into the ring with this bill.

Cornyn’s bill packs a serious punch

The LETITIA Act, co-sponsored by six fellow Senate Republicans, isn’t just a catchy acronym; it’s a direct jab at James, whose name it slyly references.

Under the proposed law, public officials found guilty of abusing their positions for personal gain through fraudulent financial schemes would face steeper federal statutory maximum sentences and fines.

Even more striking, the bill sets mandatory minimum sentences—one year for bank or mortgage fraud, and six months for tax fraud—with repeat offenders looking at up to five years for the heavier charges. Talk about consequences finally catching up.

Allegations against James under scrutiny

The spotlight first turned to Letitia James earlier this year when the Justice Department launched an investigation into claims of mortgage fraud against her.

Federal Housing Finance Director Bill Pulte alleged in a letter that James may have provided false information on property records, including a loan application listing a Virginia property as her primary residence and discrepancies in records for a Brooklyn multifamily property.

Pulte also pointed to a mortgage application where James allegedly misrepresented her relationship status with her father—a claim that raises eyebrows about integrity in public office.

Schiff faces similar fraud claims

Meanwhile, Senator Adam Schiff hasn’t escaped the crosshairs, as Pulte sent a letter to the Justice Department accusing him of falsifying bank documents and property records.

Specifically, Schiff is alleged to have listed homes in both Maryland and California as primary residences to secure better loan terms—an accusation that smells of playing fast and loose with the rules.

Schiff’s spokesperson, Marisol Samayoa, fired back, calling the claims “false allegations” meant to target a political opponent committed to holding powerful figures accountable.

Schiff’s defense raises questions

Samayoa further insisted that Schiff and his wife accurately told lenders the Maryland home purchased in 2003 was a principal residence, not a vacation or investment property.

She added that Schiff disclosed maintaining another primary residence in California, done in consultation with House counsel, while claiming only one homestead tax exemption worth about $70 annually in savings.

While that explanation might sound tidy, it still leaves room to wonder why dual primary residences were even a thing—most folks can barely afford one, let alone juggle two for loan perks.