Trump Demands Resignation of Federal Reserve Governor
(MENAFN) US President Donald Trump on Wednesday called for Federal Reserve Governor Lisa Cook to step down amid serious allegations of mortgage fraud.
“Cook must resign, now!!!” Trump declared on his social media platform, Truth Social, while sharing an article outlining the accusations.
Bill Pulte, director of the US Federal Housing Finance Agency (FHFA) and a Trump appointee, accused Cook of submitting contradictory information on mortgage applications filed in 2021 for homes in Michigan and Georgia.
Pulte alleged that Cook falsely claimed both properties as her primary residence to obtain more favorable loan conditions, which he labeled as mortgage fraud. He urged the Department of Justice to launch a criminal probe.
“According to mortgage documents obtained by US Federal Housing, it appears an individual, Ms. Lisa DeNell Cook, has falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud,” Pulte wrote in a criminal referral sent to Attorney General Pam Bondi.
The FHFA director specifically charged Cook with misrepresenting residence statuses for properties in Ann Arbor, Michigan, and Atlanta, Georgia, in a bid to secure lower interest rates.
Cook, the first Black woman appointed to the Federal Reserve Board of Governors by President Joe Biden, has yet to respond publicly. The Federal Reserve has not issued a statement regarding the matter.
This development is part of Trump’s wider campaign to pressure the Federal Reserve for interest rate cuts and to challenge Chair Jerome Powell’s policies.
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