Federal Reserve Governor Lisa Cook's legal battle against President Donald Trump centered, in part, on a trio of mortgages she obtained before joining the nation's central bank.The loans, tied to properties in Michigan, Georgia and Massachusetts, drew scrutiny regarding whether Cook misrepresented how the homes would be used — as primary residences or otherwise.Trump cited those allegations in his effort to boot her from the Federal Reserve Board of Governors, arguing they constituted cause for her removal.The Supreme Court ultimately ruled 5-4 that Cook can remain on as a Fed governor while her separate lawsuit challenging her firing proceeds.WHO IS LISA COOK? THE FED GOVERNOR AT THE CENTER OF TRUMP'S SUPREME COURT FIGHTLisa Cook, governor of the Federal Reserve, stands outside the U.S.
Supreme Court in Washington, D.C., on Jan.21, 2026, following oral arguments related to her case.
(Al Drago/Bloomberg/Getty Images)Cook challenged Trump's attempt to oust her in federal court, arguing that the move was unlawful and threatened the Federal Reserve's independence.Her lawsuit, filed Aug.
28, did not address allegations that she listed two homes as a primary residence on mortgage documents.The allegations originated with Bill Pulte, a Trump appointee who oversees the federal agency that regulates Fannie Mae and Freddie Mac.Pulte, who is now acting Director of National Intelligence, linked Cook to the trio of properties in referrals sent to the Justice Department, which later confirmed it had opened a criminal investigation into allegations of mortgage application fraud.The mortgages cited in the Justice Department probe were issued in 2021, before former President Joe Biden nominated Cook to the Federal Reserve Board.At issue were the preferential terms that come with primary-residence loans, which lenders typically view as lower risk than mortgages for vacation homes or rental properties.Cook disclosed all three mortgages in a financial filing with the U.S.
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