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Federal Reserve Governor Lisa Cook won a 5-4 Supreme Court ruling that allows her to remain on the Fed's Board of Governors while her separate lawsuit challenging President Donald Trump's attempt to remove her proceeds.
The decision preserves her seat for now, but a Justice Department criminal investigation into allegations of mortgage application fraud — rooted in three home loans Cook obtained in 2021 — keeps her legal exposure very much alive.
The Three Loans at the Center of the Dispute The mortgages in question were all issued in 2021, before former President Joe Biden nominated Cook to the Federal Reserve Board.
In April of that year, Cook secured a 15-year, $361,000 loan at a 2.5% rate on a Cambridge, Massachusetts condominium she had originally purchased in 2002 while teaching at Harvard University.
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