November 17, 2025
Fed governor Cook's lawyers call mortgage fraud allegations "baseless" as Trump seeks her firing
Supreme Court blocks Trump's unprecedented attempt to fire Fed governor, will hear arguments in Jan.
🏛️Government💰Economy🏛️Government
Federal Reserve Governor Lisa Cook's attorney Abbe Lowell sent a detailed defense to Attorney General 
Pam Bondi on Nov. 17, 2025, calling criminal referrals against Cook baseless and saying they fail on even the most cursory look at the facts. Cook has denied wrongdoing since FHFA Director William Pulte first made fraud accusations in Aug. 2025. The Supreme Court blocked Trump's firing attempt in Oct. 2025 and will hear arguments in the case in Jan. 2026.
President 
Donald Trump attempted to fire Cook in Aug. 2025 over mortgage fraud allegations, marking the first time in the Federal Reserve's 112-year history that a president has sought to remove a Fed governor. Trump has repeatedly attacked the Fed for not cutting its key interest rate quickly enough. If Cook is ultimately removed, it would give Trump the opportunity to appoint a fourth member to the Fed's seven-member board, securing a majority.
The criminal referrals concern mortgage applications Cook filed for three properties in Michigan, Georgia, and Massachusetts. Lowell's letter said the allegations rest on one stray reference in a 2021 mortgage document that was plainly innocuous in light of several other truthful and more specific disclosures about the homes she purchased. The letter argued there is no fraud, no intent to deceive, nothing whatsoever criminal or remotely a basis to allege mortgage fraud.
FHFA Director Bill Pulte has made similar mortgage fraud allegations against other Trump political enemies, including New York Attorney General Letitia James, California Sen. Adam Schiff, and California Rep. Eric Swalwell. Lowell accused Pulte of selectively targeting Trump's political enemies while ignoring similar allegations against Republican officials. James was charged with bank fraud after Pulte's referral to the Justice Department and has pleaded not guilty, seeking dismissal on grounds including vindictive and selective prosecution.
The White House ousted FHFA acting Inspector General Joe Allen right after he tried to provide key discovery material to federal prosecutors in the Eastern District of Virginia pursuing the indictment against Letitia James. Lowell cited this conduct as undercutting Pulte's criminal referrals concerning Cook. The letter also noted Pulte's recent dismissal of several internal watchdogs at Fannie Mae, one of the mortgage-finance giants under FHFA control.
Cook's case is being handled in part by Ed Martin, the Justice Department's pardon attorney, whom Bondi named as a special assistant US attorney to assist with mortgage fraud probes into public figures. The case is still being investigated, and no criminal charges have been brought. The Department of Justice does not comment on current or prospective litigation, including matters that may be an investigation, according to a spokesperson.
Cook is the first Black woman to serve on the Federal Reserve Board
She was appointed by President Biden and confirmed by the Senate
Federal Reserve governors serve 14-year terms and can only be removed for cause, not policy disagreements Trump's attempted removal challenges this independence by using criminal allegations from a political appointee who has targeted other Democrats with similar claims.
🏛️Government💰Economy🏛️Government
People, bills, and sources
Lisa Cook
Federal Reserve Governor
Abbe Lowell
Lisa Cook's Attorney
Donald Trump
President of the United States
William Pulte
FHFA Director
Pam Bondi
Attorney General
Ed Martin
Justice Department Pardon Attorney
Joe Allen
Former FHFA Acting Inspector General
Letitia James
New York Attorney General
What you can do
1
civic action
Contact Senate Banking Committee demanding oversight hearings on FHFA Director Pulte
Demand investigation of selective prosecution pattern targeting Trump's political enemies with mortgage fraud allegations while ignoring similar Republican cases
Hi, I'm calling to demand oversight hearings on FHFA Director William Pulte's pattern of selectively targeting Trump's political enemies with mortgage fraud allegations.
Key points to mention:
- Pulte made criminal referrals against Fed Governor Lisa Cook, NY Attorney General Letitia James, Sen. Adam Schiff, and Rep. Eric Swalwell
- Cook's attorneys presented evidence on Nov. 17, 2025 that the allegations are baseless
- Pulte ousted the FHFA inspector general right after he tried to provide discovery material in the James case
- No similar referrals have been made against Republicans with comparable mortgage documentation issues
Questions to ask:
- Will the committee hold hearings on Pulte's selective prosecution pattern?
- What oversight does the committee have over FHFA's criminal referral process?
Specific request: I want the committee to investigate Pulte's selective targeting of Democrats and hold hearings on his abuse of the criminal referral process.
Thank you for your time.
2
civic action
File complaint with DOJ Inspector General on politicized prosecutions
Report use of mortgage fraud allegations as pretext for removing Fed governor and targeting Trump critics, citing dismissal of FHFA inspector general
oig.hotline@usdoj.gov
Subject: Complaint Regarding Politicized Prosecutions of Trump Critics
Dear DOJ Inspector General,
I am filing a complaint regarding the politicized use of mortgage fraud allegations to target Trump's political enemies.
Key evidence:
- FHFA Director William Pulte made criminal referrals against Fed Governor Lisa Cook, NY AG Letitia James, Sen. Adam Schiff, and Rep. Eric Swalwell
- Cook's attorneys provided evidence on Nov. 17, 2025 that the allegations against her are baseless
- Pulte ousted FHFA inspector general Joe Allen right after he tried to provide discovery material in the James case
- No similar referrals have been made against Republicans
Specific request: I request the Inspector General investigate whether DOJ is using baseless mortgage fraud allegations as a pretext for political prosecutions.
Thank you for your attention to this matter.
3
civic action
Support Cook's Supreme Court case through amicus briefs
Contact organizations defending Fed independence to offer support for amicus briefs protecting central bank governors from political removal
I am reaching out to support amicus briefs in the Lisa Cook Supreme Court case protecting Fed independence.
Key points:
- Trump's attempted removal of Cook is the first in Fed's 112-year history
- Removal is based on baseless mortgage fraud allegations from political appointee
- If successful, Trump would gain majority control of Fed Board
- This threatens Fed's independence from political pressure
Questions to ask:
- Is your organization filing an amicus brief in Cook's case?
- How can I support efforts to protect Fed independence?
Specific request: I want to support amicus briefs defending the principle that Fed governors can only be removed for cause, not policy disagreements.
Thank you for your work protecting central bank independence.