Fed Governor Lisa Cook Refuses to Resign Despite Trump’s Calls Over Fraud Allegations
US Federal Reserve Governor Lisa Cook declared late Wednesday that she will not step down from her position, despite mounting pressure from President Donald Trump and allegations of mortgage fraud. In an emailed statement released through a Fed spokesperson, Cook said, “I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” adding that she intends to fully address any legitimate inquiries into her financial history.
The controversy stems from Federal Housing Finance Agency (FHFA) Director Bill Pulte’s referral to the Justice Department, urging Attorney General Pam Bondi to investigate Cook over two mortgages. Pulte alleged in an August 15 letter that Cook may have falsified bank documents and property records to obtain favorable loan terms, potentially committing mortgage fraud. Following Bloomberg’s report on the referral, Trump took to social media Wednesday morning to call for Cook’s immediate resignation.
No charges have been filed, and it remains unclear whether the Justice Department will open a formal investigation. After Cook’s response, Pulte doubled down on his accusations, writing on X that “you’ve been caught based on mortgage documents, not a tweet.” In a separate interview with CNBC, Pulte described mortgage fraud as an “existential threat” to the federal home loan banks, vowing that his agency would pursue prosecution where necessary.
