President Donald Trump urged Federal Reserve Governor Lisa Cook to resign after allegations of mortgage fraud surfaced.
“Cook must resign, now!!!” Trump wrote on Truth Social. Trump’s statement followed Federal Housing Finance Agency Director William Pulte sharing a letter he wrote to Attorney General Pam Bondi and Special Attorney Ed Martin discussing his concerns with potential falsified bank documents.
“According to mortgage documents obtained by U.S. 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 under the criminal statute,” the letter read. “This has included falsifying residence statuses for an Ann Arbor, Michigan-based residence and an Atlanta, Georgia-based property in order to potentially secure lower interest rates and more favorable loan terms.”
“She needs to quit because what she did is grounds for firing,” Pulte wrote in a subsequent social media post.
The development serves as the latest shake-up to the Federal Reserve, as Biden-appointed Federal Reserve Governor Adriana Kugler recently left her position.
“Dr. Kugler, who has served as a governor since September 13, 2023, submitted her letter of resignation to President Trump and will return to Georgetown University as a professor this fall,” the announcement of Kugler’s departure read.
President Trump has also called for Powell to resign, accusing him of misleading Congress during recent testimony. Powell has since been criminally referred to the DOJ by Rep. Anna Paulina Luna (R-FL).
Several officials are under scrutiny for alleged mortgage fraud, including Senator Adam Schiff (D-CA) and New York Attorney General Letitia James.
