Is a third strike on the horizon? Federal Reserve Governor Lisa Cook is under fire again, now facing a second criminal referral alleging serious misrepresentations on mortgage documents and government disclosures. A Trump housing director is pushing for answers, raising critical questions about ethics at the highest levels. What could this mean for the Fed?
The financial and political spheres are currently abuzz with news of Federal Reserve Board Governor Lisa Cook facing a second criminal referral to the Justice Department. This escalating Lisa Cook Investigation centers on serious Mortgage Fraud Allegations and potential Government Disclosure misrepresentations, raising significant questions about Federal Reserve Ethics and the integrity of high-level appointments.
The latest complaint, filed by Federal Housing Finance Agency Director Bill Pulte, alleges that Governor Cook may have made “misrepresentations” on mortgage documents for a third property and on her official government disclosures. This development intensifies scrutiny on a high-profile figure within the nation’s central banking system, drawing parallels to previous accusations.
Director Pulte, a figure from the Trump Administration and the source of the initial criminal referral, publicly announced the second complaint, emphasizing the severity of the allegations. He stated, “3 strikes and you’re out,” highlighting his belief in a pattern of misconduct related to Cook’s property holdings and her declarations to the U.S. government. Pulte’s detailed letter to Attorney General Pam Bondi underscores the gravity of this Bill Pulte Referral.
One key area of contention involves a property in Cambridge, which Governor Cook initially disclosed as her personal residence. Eight months later, a government ethics form reportedly indicated the property was being used as an an “investment/rental property,” according to officials familiar with the case, suggesting a potential discrepancy in her Government Disclosure.
Further complicating matters, the housing director’s findings suggest that Cook listed a property in Atlanta as her “personal residence” on government documents from 2022 to 2025. This declaration stands in contrast to evidence reportedly indicating the property was actually rented out to tenants during that period, fueling the Mortgage Fraud Allegations.
Similarly, Pulte informed the DOJ about an Ann Arbor, Michigan, property owned by Cook. This residence was also listed as a personal residence on both mortgage documents and Government Disclosure forms, yet the Federal Housing Finance Agency “has reason to believe” it is currently being used as a rental property, adding another layer to the ongoing Lisa Cook Investigation.
In light of these mounting allegations, Pulte has formally requested the Justice Department to investigate whether Governor Cook committed “further potential criminal violations” and made “material misrepresentations” to both the United States Senate and the U.S. Government. The core implication is that these alleged inaccuracies may have influenced her ability to acquire and retain her position as a Governor of the Federal Reserve.
These new developments follow an earlier accusation from Director Pulte, who alleged that Cook, an academic with a history of service on former President Barack Obama’s White House Council of Economic Advisers and former President Joe Biden’s transition team, had previously falsified bank documents and property records to secure more favorable loan terms. This continuous scrutiny challenges the Federal Reserve Ethics and the public trust placed in its leadership.
The persistent nature of these referrals from a prominent Trump Administration official suggests a deep-seated controversy that extends beyond simple bureaucratic oversights. The outcome of the Department of Justice’s potential investigation into these Mortgage Fraud Allegations could have significant implications for the reputation of the Federal Reserve and the standards of Government Ethics for political appointees.
