Trump says he'll fire Fed's Cook if she doesn't quit
Digest more
A Justice Department official is set to probe Federal Reserve Governor Lisa Cook after she was accused by a member of President Donald Trump’s administration of committing mortgage fraud, according to a letter sent Thursday to Fed Chair Jerome Powell.
President Donald Trump has called on Federal Reserve Governor Lisa Cook to resign amid a claim by a top administration official that she may have engaged in so-called mortgage occupancy fraud by falsely labeling a secondary home as her primary residence to get better loan terms.
On Wednesday, Trump called on Cook to resign after Federal Housing Finance Authority director William Pulte sent a "criminal referral" to Attorney General Pam Bondi, accusing Cook of mortgage fraud. Neither Bondi nor the Justice Department has announced if they plan to open a criminal investigation into Cook.