President Trump called for Federal Reserve Governor Lisa Cook to resign following allegations she committed “mortgage fraud.”
“Cook must resign, now!!!” Trump said on Truth Social.
Cook must resign, now!!! https://t.co/xfOJiSS2Ol
(TS: 20 Aug 08:31 ET) pic.twitter.com/OQnIQvFY2T
— Trump Truth Social Posts On X (@TrumpTruthOnX) August 20, 2025
According to NBC News, Trump’s comment follows the director of the U.S. Federal Housing Finance Agency, William Pulte, alleging that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud.”
Here is the Criminal Referral Letter on Lisa Cook, the current Fed Governor. pic.twitter.com/aG0LGnokei
— Pulte (@pulte) August 20, 2025
NBC News has more:
In the letter that Pulte called a “criminal referral,” he said that his agency had obtained her mortgage documents and requested that the Justice Department review the matter.
He further alleged that Cook falsified her “residence statuses for an Ann Arbor, Michigan-based residence and an Atlanta, Georgia-based property.”
Pulte’s letter is the latest scrutiny over the mortgages of prominent Democratic figures, including Sen. Adam Schiff of California and New York Attorney General Letitia James.
Speaking on CNBC, FHFA director Pulte said “it doesn’t matter whether you’re Fed Governor Cook or Joe Blow on the street, if you commit mortgage fraud, we are going to report it.”
“U.S. Federal Housing FHFA, alleges in a Criminal Referral to the Department of Justice that Federal Reserve Governor, Lisa D. Cook, committed mortgage fraud by designating her out of state condo as her primary residence, just two weeks after taking a loan on her Michigan home where she also declared it as her primary residence,” Pulte said.
“When someone commits mortgage fraud, they undermine the faith and integrity of our System. It does not matter who you are – no one is above the law. We have sent a Criminal Referral to the Department of Justice with regard to the allegations against Ms. Cook, and the DOJ should go wherever the facts may lead them,” he continued.
U.S. Federal Housing FHFA, alleges in a Criminal Referral to the Department of Justice that Federal Reserve Governor, Lisa D. Cook, committed mortgage fraud by designating her out of state condo as her primary residence, just two weeks after taking a loan on her Michigan home… pic.twitter.com/3hlknQ4yzF
— Pulte (@pulte) August 20, 2025
CNBC provided further info:
This is a Guest Post from our friends over at 100 Percent Fed Up. View the original article here.Cook, who was nominated by former President Joe Biden in 2022, voted with the majority on the Federal Open Market Committee to keep rates unchanged after the group’s latest meeting last month.
The Fed and the DOJ declined CNBC’s requests for comment on Pulte’s claims and Trump’s reaction.
Pulte’s central allegation is that Cook claimed two different properties as her primary residence at the same time.
“You cannot do that in America,” he said on CNBC.
The agency chief, who has aggressively backed Trump’s frequent attacks on the Fed and Powell, insisted that his actions were apolitical.
“There’s no funny business here,” Pulte said. “This is straightforward stuff, and if you commit mortgage fraud, especially in black and white, you will be prosecuted.”
But he tore into Cook at length on social media earlier Wednesday morning.
“Lisa Cooked is cooked,” he wrote in one post.
ADVERTISEMENTIn another, Pulte wrote that he believes Trump “has cause to fire” the Fed governor.
Central bank governors under the law can only be removed for “cause,” which is generally understood to mean serious misconduct.
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