Overview

• U.S. District Judge Jia Cobb held an initial hearing without issuing a ruling and ordered additional briefs due Tuesday as Lisa Cook seeks an emergency injunction.
• The Justice Department urged the court to deny Cook’s request, arguing any review must be highly deferential and that perceived financial misconduct is intolerable for a senior regulator.
• The Federal Reserve told the court it would not take a position on the merits and asked for a prompt ruling, saying it will follow whatever order is issued.
• FHFA Director Bill Pulte disclosed a new allegation involving a Cambridge, Massachusetts condo as part of his referrals, which Cook’s lawyer dismissed as an unsubstantiated smear.
• Cook remains on the seven-member board while the case proceeds, and her removal would let President Trump fill the seat and potentially shift the Board’s balance.