DOJ issues subpoenas in Fed governor Lisa Cook probe

The Justice Department has opened a criminal investigation into Federal Reserve governor Lisa Cook and has issued subpoenas over accusations that she committed mortgage fraud.

Cook, 61, is now being investigated over the accusations first leveled by Federal Housing Finance Agency Director Bill Pulte, officials familiar with the matter confirmed to the Washington Examiner. The move marks a serious escalation in the controversy, which also comes as President Donald Trump pushes the Fed to lower interest rates.