Mortgage fraud

I'm Doug Krizner.

Today was the deadline for Fed Governor Lisa Cook to respond to President Trump and the accusation she committed mortgage fraud.

Tonight, in a letter to the White House, Cook's attorney called the allegations unfounded and untrue.

Now, back in June, President Trump lost his initial bid at the Supreme Court to oust Cook.

And I think this is another break on the system.

And in fact, Clancy Yates wrote an article over the weekend talking about the AI generated documents that fuel mortgage fraud and Referring back to Ostrac and the analysts are saying that criminals have found quite significant ways to exploit AI faster than banks have managed to bolster their defences.

This is a big deal.

We're going to see more of this.

We've got another special episode of ABC Business Daily for you today.

There has been an absolute stream of news out of the banking sector in recent weeks, from earning results, to plummeting home loan applications, to AUSTRAC's investigation into mortgage fraud.

So I wanted to get an expert in to dig into it all and unpack a few of those burning questions I've had, and hopefully you have as well.

I think you'll enjoy it.