Summary
The Justice Department is investigating Federal Reserve governor Lisa Cook for alleged mortgage fraud involving properties she bought in 2021. Cook, who is contesting her removal by former President Trump, is accused of misrepresenting these properties as primary residences. The inquiry follows a referral by a top housing regulator.
Key Facts
- The investigation is about two properties Cook bought in 2021.
- She is accused of incorrectly stating these properties as her main homes.
- Allegations of fraud involve more lenient down payments and lower interest rates for primary residences.
- The inquiry was initiated by a referral from the Federal Housing Finance Authority.
- Former President Trump removed Cook from her position on August 25.
- Cook's lawyers deny any wrongdoing, saying the charges are politicized.
- The probe is being managed by the Justice Department’s Weaponization Working Group.
- The situation involves a broader legal conflict over the independence of the Federal Reserve.
