Fed's Cook says she will not be 'bullied' into resigning after Trump official accuses her of mortgage fraud
Source: CNBC
Published Wed, Aug 20 2025 10:11 AM EDT Updated 14 Min Ago
Federal Reserve Governor Lisa Cook said Wednesday that she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.” The statement from Cook came after the head of President Donald Trump’s housing regulatory agency said Cook should resign or be fired for cause over what he claimed was evidence of “mortgage fraud” by the central bank official.
“To be honest, I think she needs to resign quickly,” Bill Pulte, director of the Federal Housing Finance Agency, said of Cook on CNBC’s “Money Movers.” “I think she will have to resign, or I think she will be fired,” he said. The remarks came hours after Trump, reacting to a letter Pulte sent to the Department of Justice asking it to criminally investigate Cook, wrote in a social media post that the governor “must resign, now!!!”
In response to Pulte’s tweet, Cook said she has no plans to step down. “I learned from the media that FHFA Director William Pulte posted on social media that he was making a criminal referral based on a mortgage application from four years ago, before I joined the Federal Reserve,” said Cook 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,” she said.
Pulte’s letter to Attorney General Pam Bondi is the latest example of the Trump administration airing allegations of mortgage-related wrongdoing against the president’s opponents. The Justice Department is investigating Sen. Adam Schiff, D-Calif., and New York Attorney General Letitia James on similar grounds.
Read more: https://www.cnbc.com/2025/08/20/trump-fed-cook-pulte-mortgage-bondi.html
She had been confirmed as a Fed Governor in May of 2022.
REFERENCE - https://www.democraticunderground.com/10142914955
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