DOJ Investigates Federal Reserve Governor Lisa Cook Over Mortgage Fraud Allegations

The U.S. Department of Justice has launched a criminal investigation into Federal Reserve Governor Lisa Cook over allegations of mortgage fraud. This inquiry follows a referral from Federal Housing Finance Agency Director Bill Pulte, who accused Cook of misrepresenting multiple properties as primary residences to obtain favorable mortgage terms.

The investigation centers on properties in Michigan and Georgia that Cook allegedly declared as primary residences in 2021. Grand jury subpoenas have been issued in both states as part of the probe.

Cook's attorney, Abbe Lowell, has dismissed the allegations as politically motivated, stating, "The questions over how Governor Cook described her properties from time to time... are not fraud."

President Donald Trump has cited these allegations in his attempt to remove Cook from her position. Cook has filed a lawsuit challenging her dismissal, arguing that it infringes on her constitutional rights and threatens the Federal Reserve's independence.

This case underscores ongoing tensions between the Trump administration and the Federal Reserve, raising concerns about potential political interference in the central bank's operations.