Key Facts
• U.S. Department of Justice begins investigation into Federal Reserve Board member Cook.
• Cook allegedly listed two homes as “primary residences” in 2021 for favorable loans.
• Wall Street Journal reported the criminal investigation on September 4, 2025.
• Cook was dismissed by former President Trump over the allegations.
• Cook has filed lawsuits claiming the dismissal was unlawful.
• Investigation may support Trump’s decision but raises concerns over Federal Reserve independence.
Summary
The U.S. Department of Justice has launched a criminal investigation into Federal Reserve Board member Cook, who was dismissed by former President Trump over allegations of mortgage fraud. Cook is accused of misrepresenting two properties as primary residences in 2021 to secure favorable loan terms. The Wall Street Journal reported the investigation on September 4, 2025. Cook has contested his dismissal, claiming it was unlawful. The case has sparked concerns about the Federal Reserve’s independence and credibility, as the investigation may bolster Trump’s decision to remove Cook.
