American Oversight Sues FHFA for Records on Weaponization of Agency Against Fed’s Independence, Targeting of Lisa Cook
Our lawsuit seeks transparency as White House campaign to strong-arm the Fed takes an unprecedented turn.
Tuesday, American Oversight filed suit against the Federal Housing Finance Agency (FHFA) for failing to release records that could shed light on the Trump administration’s unprecedented firing of Federal Reserve Governor Lisa Cook — a move that appeared aimed at strong-arming the central bank into aligning with the President’s policy demands — and undermines its independence.
Trump announced the attempted firing of Cook, the first Black woman confirmed to the Federal Reserve’s Board of Governors, on social media — citing mortgage fraud accusations levied at Cook earlier this month by FHFA Director William Pulte — who has posted about Cook nearly two dozen times on social media in the past 24-hours.
Legal experts have argued Pulte’s allegations do not provide sufficient cause for Cook’s dismissal, and economists have warned that Trump’s attacks on the Federal Reserve could lead to higher inflation. Pulte has lobbed similar “mortgage fraud” accusations against Senator Adam Schiff and New York Attorney General Letitia James, both of whom were previously involved in legal proceedings against the President.
“President Trump’s attempt to oust the first Black woman ever confirmed to the Federal Reserve’s Board of Governors based on flimsy allegations is as reckless as it is nakedly partisan,” said Chioma Chukwu, Executive Director of American Oversight. “Make no mistake, Cook’s firing is the latest front in Trump’s war on the Fed — an attempt to strong-arm the nation’s independent central bank into acquiescing to his demands. The public deserves answers. By ignoring our requests for records, FHFA is attempting to avoid accountability for this assault on the Fed’s independence.”
In June, American Oversight filed a Freedom of Information Act request for Pulte’s communications with the White House, Congress, and outside actors, along with his calendars, ethics disclosures, directives, and related guidance. Despite its legal obligations, FHFA has failed to provide any of the requested records, prompting this lawsuit.