Fed Governor Lisa Cook has filed a lawsuit to stop President Donald Trump from firing her.
In loan filings and other documents, Federal Reserve Governor Lisa Cook allegedly listed a condominium unit she bought in 2021 as a “vacation” and “second” residence. This undermined the Trump administration’s allegation that Cook committed mortgage fraud, which the president used as justification to remove Cook from the Fed’s Board of Governors.
Cook told the lender that the Atlanta house would be a “vacation home,” not her regular residence, according to a May 2021 loan estimate that a credit union sent her, Reuters reported on Friday. In a December 2021 application for a security clearance, Cook also referred to the property as a “second home.”
That seems to refute claims made by Trump administration officials, including Federal Housing Finance Agency director Bill Pulte, that Cook listed separate properties in Georgia and Michigan as her “primary residence” on mortgage documents, possibly giving her access to better financing terms and tax breaks.
Cook has never claimed an exemption that would have allowed her to claim the Atlanta condo unit as her principal residence in order to lower her property taxes, according to documents in Fulton County, Georgia, as reported by Reuters.
The U.S. Justice Department launched an investigation into Cook after Trump ally Pulte filed a criminal referral against her last month. Trump used the allegation as “sufficient cause” for his historic decision to remove Cook from the Fed board on August 25.
Cook then filed a lawsuit against the Trump administration to prevent her termination. Cook can stay in her position for the time being, according to a federal district judge’s decision on Tuesday. Ahead of the Fed’s monetary policy meeting on September 16–17, the White House appealed that decision and requested an emergency ruling by Monday.
The FHFA mentioned a Pulte post on X on Saturday when contacted for comment. “Dr. Cook represents herself as an extremely accomplished financial operator,” Pulte stated. “If Dr. Cook solicited estimates as a vacation home and then entered into a mortgage agreement as a primary residence, that is extremely concerning, and in my opinion, evidences further intent to defraud.”
