Summary
The U.S. Department of Justice is investigating Federal Reserve Governor Lisa Cook for alleged mortgage fraud. This involves claims that Cook listed more than one property as her primary residence to obtain lower mortgage rates. The investigation follows a referral by Federal Housing Finance Agency Director Bill Pulte and involves grand juries in Georgia and Michigan.
Key Facts
- The investigation into Lisa Cook is about alleged mortgage fraud by the U.S. Department of Justice.
- The allegations suggest Cook falsely listed multiple homes as her primary residence to receive better mortgage rates.
- Grand jury subpoenas have been issued in Georgia and Michigan.
- The investigation began after a referral from Federal Housing Finance Agency Director Bill Pulte.
- Cook's termination by former President Trump over these claims is being legally challenged by Cook.
- Ed Martin, a special assistant U.S. attorney, is handling the investigation.
- The case may affect the Federal Reserve's independence in setting interest rates, a significant policy area.
- Cook has stated she disclosed the mortgages when she was appointed to the Fed.
