On August 15, 2025, Federal Housing Finance Agency director Bill Pulte sent a letter to U.S. Attorney General Pam Bondi asking her to open a criminal investigation into the conduct of Lisa Cook, a member of the Federal Reserve Board of Governors.

The Federal Reserve Board guides the Federal Reserve System (America’s central bank) and implements U.S. monetary policy. The Federal Reserve was structured to be independent from the whims of political parties, with Board members having staggered 14-year terms and both elected officials and presidential administration members being barred from serving on the Board.

Director Pulte alleged that Governor Cook committed mortgage fraud. He alleged that she took out two separate mortgages, weeks apart, on two separate properties in 2021.

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