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2025-08-20 Government Corruption
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Trump calls on Fed Governor Cook to resign over alleged mortgage fraud
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[YahooFinance] President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign on the basis of allegations made by one of his political allies about mortgages she holds in Michigan and Georgia, intensifying his effort to gain influence over the U.S. central bank.
Cook said she had "no intention of being bullied to step down" from her position at the central bank after U.S. Federal Housing Finance Agency Director William Pulte raised the allegations in a tweet.
"I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts," she said in a statement.
Pulte alleged in a post on X earlier on Wednesday that Cook had designated a condo in Atlanta as her primary residence after taking a loan on her home in Michigan, which she also declared as a primary residence. Pulte told CNBC he is also probing property Cook has in Massachusetts.
Loans for a primary residence can carry easier terms than those for second homes or investment properties. Pulte said the loans in question date to mid-2021, before Cook was appointed to the Fed by former President Joe Biden and confirmed by the Senate the following year. Cook, a native of Georgia, was an economics professor at Michigan State University at the time the mortgages were taken out.
Pulte asked U.S. Attorney General Pam Bondi to investigate, and Trump quickly amplified the allegation. The Justice Department is taking the matter very seriously, a department official told Reuters.
The Trump administration has used mortgage fraud investigations to go after a number of other political enemies, including Democratic New York State Attorney General Letitia James, who brought a civil fraud case against Trump for lying about his net worth to obtain his own favorable bank loans as he built his real estate empire. That case resulted in a $355 million judgment against Trump last year, which the president is appealing.
Earlier this summer, Pulte asked the Justice Department to investigate alleged mortgage fraud by Democratic U.S. Senator Adam Schiff, who ran the House of Representatives' 2019 impeachment trial against Trump. James and Schiff have both denied wrongdoing.
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Posted by DooDahMan 2025-08-20 10:23||
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Posted by DooDahMan 2025-08-20 10:27||
2025-08-20 10:27||
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Posted by Skidmark 2025-08-20 10:56||
2025-08-20 10:56||
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01:58 Grom the Affective
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