The Department of Justice has launched a criminal investigation into Federal Reserve governor Lisa Cook. This investigation is examining allegations of mortgage fraud. Multiple subpoenas have been issued as part of this inquiry. A grand jury has been assembled to review evidence related to Cook's properties in Ann Arbor, Michigan, and Atlanta. These allegations stem from accusations made by Federal Housing Finance Agency director Bill Pulte. Pulte claims Cook misrepresented her primary and second home status on mortgage applications. This allegedly allowed her to secure favorable lending terms and tax treatment. Cook is seeking an emergency court order to prevent her removal from the Fed board during the investigation. She previously sued the Trump administration after being fired for cause. Cook's legal team denies any mortgage fraud, suggesting possible clerical errors. Pulte asserts the Fed has not been independent in recent years, pointing to Cook's representation by a known political figure. The DOJ investigation is being led by Ed Martin.