Headline Roundup • September 4th, 2025
DOJ Investigates Fed Governor Lisa Cook For Alleged Mortgage Fraud
Summary from the AllSides News Team
Federal Reserve Board of Governors member Lisa Cook is being criminally investigated by the Department of Justice (DOJ) on allegations of mortgage fraud.
The Details: The DOJ investigation aims to determine whether Cook submitted fraudulent information on mortgage applications, according to reports. The allegations are focused on Cook’s properties in Michigan, Georgia, and Massachusetts. Before the official investigation, the Director of the Federal Housing Finance Agency, Bill Pulte, publicly alleged Cook’s engagement in mortgage fraud, writing two separate criminal referrals on the matter. Pulte alleged that Cook was fraudulently misleading banks on multiple mortgage applications to receive lending terms typically given to a buyer intending to occupy the home purchased. A video posted by Pulte on X showed a reporter contacting someone at Cook’s Michigan residence, who said they were “just living there,” insisting the reporter would have to “talk to the owner.”
For Context: On August 25, prior to the DOJ investigation, President Donald Trump removed Lisa Cook from her position at the Federal Reserve, prompting Cook to file a lawsuit against Trump for the removal. A judge is set to consider an emergency order filed by Cook stopping her removal from the Fed board while the case proceeds; however, it is unknown how the DOJ investigation will affect the judge’s decision.
How The Media Covered It: The Wall Street Journal (Center bias) was the first to report on the investigation, citing US officials familiar with the matter. ABC News (Lean Left) highlighted a statement by Cook’s attorneys saying the Trump administration, “recognizing the flaws in challenging their illegal firing of Governor Cook,” is “scrambling to invent new justifications for its overreach.” Fox News (Right) mentioned the “news threatens to further ensnarl her legal fight to stay on the Fed board” while also noting arguments for Trump’s right to determine the “for cause” nature of removing a member of the Fed’s board.
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Featured Coverage of this Story
The Department of Justice has opened a criminal investigation into Federal Reserve Governor Lisa Cook, sources familiar with the matter said Thursday.
Al Drago/Bloomberg via Getty Images; Allison Robbert/Bloomberg via Getty Images / Getty Images
The Justice Department has formally opened a criminal investigation into Federal Reserve Board Governor Lisa Cook as part of an effort to determine whether she submitted fraudulent information on mortgage applications, Fox News has learned.
The Justice Department has opened a criminal investigation into Federal Reserve governor Lisa Cook, issuing subpoenas as part of an inquiry into whether she submitted fraudulent information on mortgage applications, according to U.S. officials familiar with the matter.
