Fed’s Cook Says She Won’t Be Bullied Into Stepping Down
Federal Reserve Governor Lisa Cook signaled her intention to remain at the central bank in defiance of calls for her resignation by President Donald Trump over allegations of mortgage fraud.
“I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” Cook said in a statement. “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.”
Federal Housing Finance Agency Director Bill Pulte recently urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages. After Bloomberg News reported the referral Tuesday evening, Trump called for Cook to step down in a social media post Wednesday morning.
Pulte wrote a letter to Bondi and Justice Department official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense. The letter alleged that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”
Trump’s administration has also pursued mortgage fraud allegations against high-profile Democrats, including California Senator Adam Schiff and New York Attorney General Letitia James. Both are longtime political foes of Trump.
No charges have been filed and it’s not clear whether Bondi will investigate. The Justice Department previously declined to comment on Pulte’s letter.
Source : Bloomberg
