"Lawyers with the justice department have issued subpoenas for the investigation, according to the Wall Street Journal. Last month, Trump moved to fire Cook over unconfirmed claims that she listed two properties as her primary residence. Bill Pulte, the director of the Federal Housing and Finance Agency and a close ally of Trump, alleged Cook had lied on bank documents and records to obtain a better mortgage rate."
"In response to Trump's bid to dismiss her, Cook filed a lawsuit against Trump arguing that her removal was unconstitutional and threatened the independence of the Fed. Cook's lawyers argue the firing was unprecedented and illegal and that federal law requires showing cause is required for a Fed governor's removal. An unsubstantiated allegation about private mortgage applications submitted by Governor Cook prior to her Senate confirmation is not [cause], her lawyers said in court documents."
The US Justice Department has opened a criminal investigation into mortgage fraud claims tied to Federal Reserve governor Lisa Cook and has issued subpoenas. Trump moved to fire Cook over unconfirmed claims she listed two properties as primary residences, and Bill Pulte alleged she lied on bank documents to obtain a better mortgage rate. Cook said she will not be bullied and would take questions about her financial history seriously. Cook sued Trump, arguing her removal was unconstitutional and threatened Fed independence; her lawyers say federal law requires cause and suggest a clerical error explains discrepancies. Judge Jia Cobb expedited the case.
Read at www.theguardian.com
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