"It was the first time a president has sought to remove a Fed governor in the central bank's 112-year history. Cook sued to keep her job, and the Supreme Court ruled last month that she could remain in the position while she fights the administration in court. The Supreme Court has said it would hear arguments in the case in January."
"Cook's attorney, Abbe Lowell, wrote that the case against Cook largely rests on "one stray reference" in a 2021 mortgage document that was "plainly innocuous in light of the several other truthful and more specific disclosures" about the homes she has purchased. "There is no fraud, no intent to deceive, nothing whatsoever criminal or remotely a basis to allege mortgage fraud," the letter said."
"In August, Pulte accused Cook of committing mortgage fraud by declaring two different homes - one in Ann Arbor, Michigan, the other in Atlanta - as her "primary residence." Such declarations can result in lower mortgage rates or a smaller down payment requirement than if a property i"
Lawyers for Federal Reserve Governor Lisa Cook sent a letter to Attorney General Pam Bondi disputing mortgage fraud allegations by a Trump administration official. President Donald Trump used the accusation to seek her firing, the first such attempt against a Fed governor in the central bank's history. Cook sued to keep her job; the Supreme Court allowed her to remain in the position while the case proceeds and will hear arguments in January. The letter responded to an FHFA criminal referral by Bill Pulte, whose complaint the lawyers said rests on an innocuous mortgage reference and contains no fraud. Cook is the first Black woman on the Fed board.
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