DOJ Opens Criminal Investigation Into Fed Governor Lisa Cook

The U.S. Justice Department has launched a criminal investigation into Federal Reserve Governor Lisa Cook, issuing subpoenas to examine allegations that she submitted fraudulent information on mortgage applications. The inquiry, which involves a grand jury, focuses on properties Cook owns in Ann Arbor, Michigan, and Atlanta, with accusations that she misrepresented these properties as primary or secondary residences to obtain favorable mortgage terms. This investigation follows reports from Federal Housing Finance Agency director Bill Pulte, who provided evidence suggesting Cook committed mortgage fraud. The probe coincides with a legal dispute between Cook and President Donald Trump, who recently fired her 'for cause' under the Federal Reserve Act; Cook has filed a lawsuit challenging her dismissal. A judge is currently considering an emergency order to prevent her removal from the Fed board while the case proceeds, with the Federal Reserve's next meeting scheduled for September 16. The Justice Department's actions highlight ongoing tensions between the administration and the Federal Reserve amid serious fraud allegations.