FHFA Head Refers Fed Governor Cook to DOJ for Mortgage Fraud Allegations

Federal Reserve Governor Lisa Cook, appointed by President Trump’s predecessor in 2022, faces criminal allegations of mortgage fraud from Federal Housing Finance Agency Director Bill Pulte. Pulte accused Cook of falsely designating both a Michigan home and an Atlanta condo as her primary residences within a short timeframe to secure favorable loan terms, and referred the matter to the Department of Justice for investigation. The FHFA’s probe has expanded to include Cook’s property in Massachusetts, although no definitive findings have been reported. President Trump called for Cook’s resignation, emphasizing that no one is above the law, and also urged Federal Reserve Chair Jerome Powell to investigate the matter, warning that failure to do so would imply complicity. Cook has denied wrongdoing and stated she intends to respond to legitimate questions regarding her financial history. This controversy occurs amid President Trump’s broader efforts to replace Federal Reserve leadership with officials aligned with his economic policies.