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DOJ Launches Mortgage Fraud Probe of Federal Reserve Governor Targeted by Trump

HeadlineSep 05, 2025

The Justice Department has launched a criminal investigation into Federal Reserve Governor Lisa Cook, who’s accused of criminal mortgage fraud for listing more than one property as a primary residence when she applied for loans, allegedly to secure lower interest rates. Cook’s lawyer said in response the Trump administration was inventing justifications to fire Cook as part of President Trump’s pressure campaign against the Fed, an independent government agency. ProPublica reports at least three of President Trump’s Cabinet members call multiple homes their primary residences on mortgages.

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